The Denver Nuggets and the reigning NBA MVP Nikola Jokic have agreed to a five-year, $264 million super-max extension, according to Shams Charania of The Athletic. The fifth year of the contract includes a $60 million player option for the 2027-28 season. The Serbian center player’s current contract pays him $32.5 million for the upcoming season, so this new deal will go into effect immediately after the 2022–23 NBA season.
This extension’s exact cost will not be widely publicized until it begins next year. However, depending on how the wage cap rises, it is expected to be worth between $258,550,240 and $276,121,615. According to Mike Singer of The Denver Post, the extension includes a player option. Nonetheless, the contract is the most lucrative in NBA history.
The offer came as no surprise to Jokic. He was asked about his upcoming contract extension shortly after the Nuggets’ first-round finals loss to the Warriors this season, and he stated that he would sign it, but his ultimate goal was still to win a title with Denver.
“I would like it, of course, but it’s not something that I’m deciding,” said Jokic. “I think of course if it’s offered — if (the) offer is on the table — of course, I’m going to accept it because I really like the organization and really like the people who work here.”
The 27-year-old Serbian has developed a positive relationship with the Denver team and crew, and he loves working with them.
“I’m in (a) really good relationship with people who work here, and a good relationship with everybody from the owner to, let’s say, the equipment manager,” Jokic followed up. “I think we have something that we’re building. It actually feels really good.”
Since the Nuggets drafted him 41st overall in 2014 as a 20-year-old, the Joker has remained committed to the team for nearly 7 years. Such devotion is not common.
Two-time NBA MVP Nikola Jokic has agreed to a five-year, $264 million supermax contract extension with the Denver Nuggets, the richest deal in NBA history, sources tell @TheAthletic @Stadium. Fifth season (2027-28) will be a player option at $60M.
— Shams Charania (@ShamsCharania) June 30, 2022
Jokic’s record with the Denver Nuggets
Jokić has led the Nuggets to the postseason in all four of his seasons as a center, including a trip to the Western Conference Finals in 2020. Despite missing most of the season due to knee and back injuries, the two-time reigning MVP led the Nuggets to a 48-34 record and a sixth-place finish in the Western Conference playoffs last season.
He averaged 26.7 points, 12.3 rebounds, and 8.1 assists per game while shooting 57.5 percent from the field. The Joker led the League in player efficiency for the second year in a row.
Last season, Jokic averaged 27.1 points, 13.8 rebounds, 7.9 assists, and 1.47 steals in 74 games for the Nuggets. He is the first player in NBA history to have at least 2,000 points, 1,000 rebounds, and 500 assists in a single season, with 19 triple-doubles.
Denver coach Michael Malone believes his most valuable player will continue to progress and disprove those who dismiss him, and the four-time NBA All-Star will continue to receive his support.
“I don’t know what else you can say about Nikola at this point,” Malone proudly said. “He’s consistently improved his game, he’s consistently proven people wrong when they doubt him and he’s consistently the best player on the floor night in and night out. I’ve said it many times before, I’m extremely grateful to coach Nikola Jokic and just as grateful for the bond that we’ve built off the court in our seven years together.”