The two-time MVP just made history with an unprecedented supermax extension from the Denver Nuggets. Let’s dive into the details of this record-breaking Nikola Jokić contract.
The NBA offseason/free agency frenzy was only officially off and running for a few minutes before several NBA stars had already inked some massive deals — and the most lucrative of all contracts signed this offseason ended up in the hands of Denver Nuggets center and two-time MVP winner Nikola Jokić. The deal is a five-year Designated Veteran Player Extension (“supermax”) worth $272 million. It’s the single biggest contract in NBA history, and kicks in starting in 2023-24 at a salary number scaled to 35% of the league’s salary cap.
This is quite the come-up for the former second-round pick in the 2014 draft who was either famously or infamously selected while the telecast was airing a Taco Bell commercial.
The Joker is coming off a campaign in which he became the first player in NBA history with 2,000 points, 1,000 rebounds, and 500 assists in a single season, and at 27, Denver has him in the prime of his career and locked in through the summer of 2028. With that in mind, let’s dive into the details of this astronomical Nikola Jokić contract.
Nikola Jokić Contract Details & Salary
All dollar figures via Spotrac.
Years: 5 (begins with 2023-24 season; fifth year is player option)
Total value: $272,020,000
Average annual value: $54,404,000
Free agency: 2027 or 2027
Remaining salary under current deal:
2022-23: $32,478,838
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Annual supermax salary earnings:
2023-24: $46,900,000
2024-25: $50,652,000
2025-26: $54,404,000
2026-27: $58,156,000
2027-28: $61,908,000 (player option)
That last salary number for the 2027-28 season is the crown jewel of the contract — Jokić is slated to become the first NBA player to make $60 million on the court in a single season. Given the truly unprecedented season in productivity he had and his age, this is well-deserved. It is also a powerful indication of where NBA salaries are headed in the years to come, especially as new infusions of revenue from TV deals increase the league’s salary cap, which in turn dictates the number the 35% supermax threshold pays out.
Specifically, the final year of the deal includes a player option and trade kicker — an extra cash bonus that pays out if a player is dealt, often 15% of that year’s salary, — per Jokić agents Jeff Schwartz and Mike Linderman of Excel. It’s a deep, deep hypothetical and highly unlikely, but if a 15% kicker did go into effect during the 2027-28 season in question, the Joker’s salary would escalate to an incredible $70,662,90, retroactively adjusting the max value of the full deal to $279,206,900.
Nikola Jokić’s Career Earnings
CAREER BASE SALARY EARNED: $115,969,072
BONUSES/INCENTIVES EARNED: $3,327,590
TOTAL NBA SALARY EARNINGS THRU 2022 : $119,296,662
ESTIMATED TOTAL SALARY EARNINGS THRU 2028: $421,775,550
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