Nikon's 120-300mm f/2.8 TC VR S Lands October 29 as Priciest Nikkor Z

Nikon will announce the Nikkor Z 120-300mm f/2.8 TC VR S on October 28 or 29, and rumor has it debuting as the most expensive lens in the entire Nikkor lineup — priced above the Z 400mm f/2.8 TC VR S, which currently sells at $12,696.95 after a $2,000 rebate.

That's a striking position for a zoom. A fast-aperture telephoto zoom commanding more than a flagship 400mm prime is rare, and it signals exactly who Nikon is building this lens for: sports and wildlife professionals who need zoom flexibility at f/2.8 rather than maximum reach per dollar.

What do we know for certain, and what's rumor?

The development itself is official. Nikon formally announced the lens in May as a telephoto zoom with a built-in 1.4x teleconverter — flip the TC in and the 300mm f/2.8 end becomes 420mm at f/4. The October 28/29 date comes from Nikon Rumors, which has tracked the lens through multiple leaks, including prototype photos taken at Roland Garros in June, where the lens was spotted in the hands of working shooters.

The price claim remains rumor, not Nikon confirmation. The same goes for production volume.

Weight and comparison points

The reported details that matter for working pros:

• Weight: roughly in line with the Canon RF 100-300mm f/2.8 L IS USM, around 5.7 lb / 2,590 g. That's significantly lighter than the legacy F-mount Nikkor AF-S 120-300mm f/2.8E FL ED SR VR at 7.2 lb / 3,250 g — a 660-gram reduction, or about a pound and a half saved over the lens this one effectively replaces.
• Price: rumored above the Z 400mm f/2.8 TC VR S at $12,696.95 after rebate, which would make it the most expensive Nikkor Z on the shelf.
• Supply: described as very limited production, with very long wait times expected at launch.
• Release: official announcement dated October 28/29.

Leaked images have circulated for months, alongside size comparisons against the 400mm f/2.8 TC VR S. Treat all of it as unconfirmed until Nikon's own release lands.

What does this change for working shooters?

For sports, concert and wildlife pros already in the Z system, this replaces the two-body prime rig for many assignments — one lens covering 120-300mm at f/2.8, extendable to 420mm f/4 without swapping glass. If the price rumor holds above $12,700, it's a rental-first purchase for most independents, and the limited production means booking a copy early if you own rather than rent.

For Nikon's business, it's a direct answer to Canon's RF 100-300mm f/2.8, which has pulled professional sports shooters since its launch. Matching its weight while adding a built-in teleconverter is the competitive pitch.

What comes next

The Z70 camera follows in November or before year-end, per the same reporting. The 120-300mm's October 28/29 announcement date is the near certainty here; the price and the wait times get confirmed — or not — on launch day.