The Denver Nuggets and reigning back-to-back NBA MVP Nikola Jokic have reportedly agreed to a five-year $264 million supermax contract extension, the richest agreement in NBA history, according to Shams Charania of The Athletic and Stadium.
Charania noted Jokic will have a player option for the 2027-28 season worth $60 million.
Jokic has averaged 26.7 points on 57.5 percent shooting, 12.3 rebounds and 8.1 assists over his past two seasons. He's led the NBA in player efficiency rating each of those years, per Basketball-Reference.
The 27-year-old has also led Denver to the playoffs each of the last four seasons, including a Western Conference Finals appearance in 2019-20.
Jokic's finest work may have come in 2021-22, however, as he guided Denver to a 48-34 record and the No. 6 seed in the Western Conference playoffs despite the team missing Jamal Murray (torn ACL) all season and Michael Porter Jr. (lumbar spine surgery) for all but nine games.
Naturally, the Nuggets should want Jokic around for as long as possible. The feeling is mutual, per Jokic's comments to reporters after the season about the potential of signing a supermax extension.
"I would like it, of course, but it’s not something that I’m deciding," Jokic said, per Sam Amick of The Athletic. "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."
Amick reported that Denver was expected to offer Jokic a five-year, $254 million extension that would make him the highest-paid player in the game.
Expectations will be high in Denver next year with the presumed and hopeful healthy returns of Murray and Porter alongside the franchise cornerstone in Jokic.
But the big man could well be up to the task after two tremendous seasons showcasing why he is arguably the best player in basketball right now.