Nuggets forced to wait on Jokic after contract crisis sparked

The Nuggets already know their franchise player isn’t going to sign another extension—at least not now. Nikola Jokić is under contract through 2028, with three guaranteed seasons remaining. Realistically, though, that could be just two, since he holds a $62.8 million player option for 2027–28. That option would allow him to hit free agency in the summer of 2027—a date many teams, including the Lakers, have already circled as a major opportunity to open up cap space.

In an era where the summer free agency market has lost much of its former shine, and roster-building—especially for stars and near-stars—happens more often via trades and extensions, 2027 stands out as a strategic landmark. Why? Because several top-tier players could hit the market that year. Leading the pack are Jokić and Giannis Antetokounmpo, who also has a player option for the 2027–28 season. That’s the heart of the growing speculation.

Under the terms of his current deal, Jokić became eligible—starting Tuesday—to sign a three-year extension worth $206 million. But if he waits until 2026, he can add a fourth year and nearly $80 million to that figure, bringing the total to around $285 million. According to the Denver Post, both routes have been discussed within the Serbian star’s inner circle. The Nuggets presented the extension option now—which would give the franchise clarity, lock in their superstar, and cost less. But the response they received—“wait a year”—didn’t catch them off guard or spark panic. It’s seen as a financial decision, not a reflection of dissatisfaction or a sign of imminent departure from the only NBA team he’s ever played for. Drafted 41st overall in 2014, Jokić joined the Nuggets in 2015 and has now spent a decade with the franchise.

The Kroenke family, who own the team, made it clear back in June that they want to keep Jokić for the long haul. Josh Kroenke, the team’s CEO and president, said the offer would be made—but admitted he expected the player to decline it, for now:

“Of course, we’re going to make our offer, but I’m not sure he’ll accept because we’re going to evaluate all the financial parameters of his potential decision, what it means for him to sign now or later. We’ll be completely transparent and we imagine he’ll do what he believes is best for his future and that of his family—and that’s something we fully support.”

Jokić, now 30, just wrapped up another spectacular season: 29.6 points, 12.7 rebounds, and 10.2 assists per game. He finished second in MVP voting behind Shai Gilgeous-Alexander, falling just short of a fourth MVP (a feat that would’ve placed him in rare, old-school company). Still, he became the first player since Larry Bird to finish top two in MVP voting for five straight years—winning three times and finishing runner-up behind Shai and Joel Embiid in the others.

The Nuggets were eliminated in the second round for the second straight postseason—two years without returning to the Finals after their 2023 championship. But they pushed the Thunder, eventual champions, to seven games. That came despite a rough season, one where the team seemed to be regressing and Michael Malone—the coach who led them to the 2023 title—was surprisingly fired just days before the playoffs.

David Adelman stepped in as interim coach and has since been made permanent head coach. The front office also underwent major changes: Calvin Booth is out, replaced by Ben Tenzer and Jon Wallace. The Nuggets have had a bold summer, trading for Cam Johnson (sending out Michael Porter Jr. in the process) and adding Bruce Brown (a key part of the 2023 title run, now returning), Tim Hardaway Jr. (a bench shooter), and Jonas Valančiūnas—a rock-solid, productive backup center Jokić hasn’t had in years. Valančiūnas could be key to easing Jokić’s regular season workload without the team falling apart when he’s off the floor.

However, there’s still a snag: Valančiūnas reportedly wants to break his contract to sign with Panathinaikos in Greece. The Nuggets are hoping to resolve the situation, but if not, they’ll turn their attention to Al Horford, who has yet to decide his future. Denver has the ability to make a competitive offer thanks to moves this summer that both improved the roster and created financial flexibility—something they previously lacked.

According to ESPN’s Brian Windhorst, Jokić—who had reportedly grown frustrated in recent weeks amid serious rumors prior to Booth and Malone’s dismissals—is now “very satisfied” with the Nuggets’ off-season moves. That harmony is crucial: his decision to wait on the extension is, for now, purely financial. And it makes sense. By waiting, he preserves the option to sign an even larger deal in 2026, when the salary cap will likely jump again with the arrival of new TV contracts. Still, there’s a risk: until he signs, the possibility of tension around his future will always be there—especially as 2027 draws closer.

If things go south—on the court, behind the scenes, or in his personal calculations—well, anything could happen. It’s one of those situations that feels unthinkable... until it isn’t.

The Nuggets and Jokić aren’t there yet. But it’s worth remembering what Josh Kroenke said during that same appearance back in June—words that stunned many across the NBA:

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“It’s not that we’re afraid of being in the second apron, but we have to be careful with the rules, with our injury history... if the wrong person gets injured, we could find ourselves sooner than we think in a scenario we’d never want to have to consider: that of trading number 15.”

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