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The NBA free agency signing period has only officially been open for under six hours, but we’ve already seen two massive deals take place. Bradley Beal signed a five-year, $251 million contract to stay with the Washington Wizards. That’s a ton of money, but Nikola Jokic has Beal beat.
Jokic and the Nuggets agreed to a five-year, $264 million supermax contract extension. It’s the largest deal in NBA history. Per Shams Charania, the final year of the contract is a player option worth $60 million, which would be the largest single-season salary for a player.
Jokic will make $32.5 million next season, the final year of his previous contract. Then, this one will kick in, running through the 2027-28 season.
Though the Nuggets lost in the first round last season, there’s reason for optimism within the organization. Jokic is playing at an extremely high level, and he should have some more help, as guard Jamal Murray and forward Michael Porter Jr. will be returning from long-term injuries.
The Nuggets drafted Jokic with the 41st pick in 2014. The Serbian has won back-to-back MVP awards, the lowest draft pick to ever win MVP. He’s also made four All-Star teams and has been named to three All-NBA First Teams and one All-NBA Second Team.
After the Nuggets’ early playoff departure this year, Jokic said he would like to remain with the organization, having a good relationship with both the players and staff. And it’s paying off for both sides — the Nuggets get to keep one of the best players in the NBA, and Jokic will make more money than any other player in the league.
Now that the financials are sorted out, Jokic and the Nuggets will get back to the biggest on-court goal: winning a championship.