Three-time NBA MVP Nikola Jokić has opted to delay signing a contract extension with the Denver Nuggets this summer. This decision, confirmed by a source familiar with the situation on March 12, 2024, was not publicly addressed by either Jokić or the team. The source requested anonymity as the discussions remain private.
Currently, Jokić has at least two years remaining on his existing contract, which includes salaries of $55.2 million for the 2024-2025 season and $59 million for 2026-2027. He also holds a player option for the 2027-2028 season worth nearly $63 million. By postponing the extension, Jokić is setting himself up for a potentially more lucrative deal next summer, as he could then sign for an additional four years at a higher financial value than this summer’s available extension of around $212 million.
Strategic Decision Amid Changes
Earlier this offseason, Josh Kroenke, vice chairman of Kroenke Sports and Entertainment, indicated that the Nuggets would present Jokić with both options regarding the contract extension. “We’re going to explain every financial parameter around him signing now versus signing later,” Kroenke stated, emphasizing the team’s respect for Jokić’s decision-making process.
Jokić’s recent season was historic; he became the first NBA center to average a triple-double, posting impressive statistics of 29.6 points, 12.7 rebounds, and 10.2 assists. Despite his efforts, he finished as runner-up in the MVP voting to Shai Gilgeous-Alexander of the Oklahoma City Thunder. Jokić’s performance placed him in an elite category alongside legends like Russell Westbrook and Oscar Robertson, who are the only other players to achieve such averages.
The season was challenging for both Jokić and the Nuggets, leading to significant changes within the organization. Following three consecutive losses at the end of the regular season, coach Michael Malone and general manager Calvin Booth were dismissed. However, the team managed to finish strong, winning their final three games and advancing past the Los Angeles Clippers in the playoffs. They pushed the eventual NBA champions, the Thunder, to a decisive seven-game series in the Western Conference semifinals.
New Beginnings in Denver
During the postseason, Jokić continued to excel, averaging 26.2 points and 12.7 rebounds. He also made history as the fastest player in NBA history to reach 16,000 points, 8,000 rebounds, and 5,000 assists, achieving this milestone in just 739 games—surpassing the previous record held by Larry Bird.
As the Nuggets prepare for the upcoming season, they welcome new leadership. David Adelman, who served as interim coach following Malone’s firing, has been permanently appointed to the head coach position. The Nuggets have also seen changes in their front office, with executive vice presidents Ben Tenzer and Jonathan Wallace committed to building a competitive team around Jokić during this championship window.
Recently, the franchise made headlines by trading Michael Porter Jr. and a first-round draft pick to the Brooklyn Nets for Cam Johnson. They have also re-signed Bruce Brown, a key contributor to their championship run, and added sharpshooter Tim Hardaway Jr.. Additionally, the Nuggets are reportedly finalizing a deal that would send Dario Šarić to the Sacramento Kings in exchange for center Jonas Valančiūnas, who will serve as a backup for Jokić.
In the meantime, Jokić is enjoying his offseason back in Serbia, where he was recently spotted celebrating a victory with one of his prized racehorses. As the NBA landscape shifts around him, Jokić’s strategic decision to delay his contract extension may set the stage for an even brighter future in Denver.
