The Nuggets have declined Holmes' $5.55 million rookie-scale team option for the 2027-28 season, Michael Scotto of HoopsHype.com reports.
The decision puts Holmes, the 22nd overall pick in the 2024 NBA Draft, on track to become an unrestricted free agent in the summer of 2027. Denver's decision raises questions about the young big man's long-term future with the franchise, though it doesn't immediately affect his role or fantasy outlook for the current campaign.