Denver Nuggets star Nikola Jokic will not pursue a contract extension this summer, postponing discussions until next summer, as confirmed by a league source to ESPN on Tuesday.
Jokic still has three years left on his five-year, $276 million contract extension that he signed in the summer of 2022. The three-time MVP has a player option for the last year of the deal, which is valued at $62.8 million for the 2027-28 season.
According to ESPN’s Bobby Marks, Jokic can sign a three-year, $200 million extension until October 20. This new deal would replace his player option in the first year.
By postponing extension talks until the 2026 offseason, the Nuggets star can secure an extra year worth $77 million, as noted by Marks.
Josh Kroenke, the president of the Nuggets, mentioned that the team plans to propose an extension to their franchise player this summer. However, he recognizes that Jokic might find it more beneficial to sign one next summer.
“We’re definitely going to make an offer,” Kroenke told reporters recently. “I can’t say if he’ll accept it or not because we’ll explain all the financial details about signing now versus later. We aim to be completely open about this. Ultimately, he will decide what’s best for himself and his family, and we’ll support him in that choice.”
Recently, the Nuggets have made several changes to improve their team around Jokic. They hired David Adelman as the new head coach, replacing Michael Malone, and brought in Ben Tenzer and Jon Wallace as general managers instead of Calvin Booth.
Tenzer and Wallace traded Michael Porter Jr. for Cameron Johnson from Brooklyn and agreed to send Dario Saric to Sacramento for Jonas Valanciunas to support Jokic. They also re-signed Bruce Brown, who was key in helping the Nuggets win a championship in 2023, and added Tim Hardaway Jr. through free agency.
The Denver Post first reported that Jokic is delaying extension discussions until next summer.
