For months, the expectation has been that Nikola Jokic would sign a contract extension with the Denver Nuggets when he becomes eligible to do so in July. Denver’s own front office has echoed that confidence. Executive vice president Ben Tenzer told reporters on Thursday, “You’ve heard what he’s said about his happiness here. We feel really comfortable with that relationship.” Even Jokic, after the Nuggets’ playoff loss to Minnesota, said, “I still want to be a Nugget forever.”
But things quickly shifted on Saturday. According to Marc Stein and Jake Fischer of “The Stein Line,” Jokic told the Nuggets last offseason that he wanted to wait a year before exploring an extension, but now that a year has passed, both sides are “electing to take the same step and holding off on extension talks.”
Jokic signed a five-year, $276 million extension with Denver in 2022, and he will have a $62.8 million player option for the 2027-28 season. That means if he heads into this upcoming season without an extension in place, he could turn down his option and become an unrestricted free agent next year.
Jokic averaged 27.7 points, 12.9 rebounds, and 10.7 assists per game last season, leading the entire league in both rebounding and assists. He’s already won three regular-season MVPs, a Finals MVP, and an NBA championship. He’s still just 31 years old and hasn’t suffered any major long-term injuries. He’s worth every penny he’s fighting for.
The issue is that after the Nuggets’ disappointing playoff loss, it’s obvious there are clear holes on the roster. But the team also has serious cap restraints. The starting lineup eats up over $180 million of the cap. Jamal Murray has a $50.1 million cap hit next season, while Aaron Gordon is owed nearly $32 million, Cameron Johnson $23 million, and Christian Braun $21.5 million.
Jokic is eligible for either a three-year, $214 million extension or a four-year, $278 million deal, depending on whether he opts out of his 2027-28 player option. If he signs the three-year deal, he will become the first player in league history to sign a contract worth over $70 million annually. And Denver can offer him more than any other competing team.
Other teams are gearing up to make a move, though. The Chicago Bulls, Brooklyn Nets, and Los Angeles Lakers are among the teams that have been preserving cap space specifically for the 2027 summer, and Jokic would have no shortage of suitors if he were to reach the open market.
There’s no indication right now that Jokic wants out. But this time last year, everyone said an extension was coming, too.