5-year, $359.5 million! Jokic's extension next summer will break records, career total salary reaches $724 million

On August 5, Beijing time, should we worry about Jokic's future in Denver? Salary expert Marks says there's no need to sound the alarm for the Nuggets yet, especially since Jokic has signaled that he is willing to complete an extension next summer.

After playing in the men's basketball World Cup qualifiers last week, Jokic told reporters in Serbian: "My thoughts and wish are to stay in the Nuggets. I will likely sign next year."

Jokic's current contract has two seasons left (2027-28 season is a player option), and since June 14, he has been eligible to negotiate a 4-year, $278 million max early extension. If he waits until next summer,Jokic, as a free agent, can sign a 5-year, $359.5 million contract. This contract would become the largest in NBA history, and would bring his career on-court earnings to $724 million (This is already the second consecutive offseason in which Jokic has early extension eligibility. In the 2025 offseason, he could sign a 3-year, $200 million early extension.)

The Nuggets' offseason moves were relatively quiet, largely constrained by the team's salary situation. Denver signed Tyus Jones and Marvin Bagley III to veteran minimum contracts, and matched the 2-year, $12 million offer sheet that Spencer Jones reached with the Thunder.

The Nuggets are the only team in the second apron territory. If restricted free agent Peyton Watson accepts the $6.5 million qualifying offer, the team's luxury tax bill could exceed $100 million. Over the next seven seasons, the Nuggets have no first-round picks available for trade; if the team remains above the second apron at the end of the 2026-27 season, their 2034 draft pick will be frozen. Excluding 2027 free agents Cameron Johnson, Julian Strawther, and Watson, the Nuggets' projected salary total for next offseason is $14 million below the luxury tax line.