NBA's Biggest Contract Extension in History Is $256 Million For Five Years

The Denver Nuggets signed Nikola Jokic to a five-year, $256 million Max contract, the largest in NBA history. Karl-Anthony Towns is also rumored to have signed a four-year, $224 million Max contract. Devin Booker will finalize a four-year, $224 million deal to stay with the SUNS through the 2027-28 season.

Jokic's deal includes a $60 million player option for the final year of the 2027-28 season.

Jokic became the 13th player in NBA history to win back-to-back MVP awards in the 2021-22 season, beating Philadelphia 76ers star center Joel Embiid and was again named to the first team of the year.

Jokovic averaged 27.1 points, 13.8 rebounds, 7.9 assists and 1.47 steals in 74 games last season, a league-leading 19 times, becoming the first player in NBA history to record at least 2,000 points, 1,000 rebounds and 500 assists in a single season.

Towns' New Deal starts with the 2024-25 season and brings his total contract to $295 million over six years with two more years in the works.

Towns averaged 24.6 PPG, 9.8 RPG, 3.6 APg, 1 interception and 1.1 RPG during the 2021-22 season, helping the Wolves make the playoffs all the way to Memphis, where they fell to 2-4 in the first round. Towns was also named to the third team of the year.

As ESPN's Adrian Wojnarowski points out, Ja Morant, the No. 2 overall pick in the 2020 draft, has agreed to a five-year Max extension with the Grizzlies. His contract currently stands at $193 million, but if he makes the All-NBA team next season, That would raise him to $231 million. He was selected to the second team last season, but the extension doesn't apply. "Memphis is my home," Morant tweeted after the news broke.