Dimitrios Giannakopoulos, owner of Panathinaikos Basketball Club, revealed on August 10 that he made a serious proposal to the Denver Nuggets to buy out Nikola Jokić’s contract and sign the three-time NBA MVP for the upcoming season [1, 2, 3, 4, 5]. Giannakopoulos said the Nuggets rejected the offer almost immediately, quoting their response as "Who? Greece? Where? What? Bye." He added, "People are going to say, ‘OK, now he’s joking.’ I did make a very serious proposal this year, both to his team and to him. I got a rejection. I know that he has one more year [on his] contract" [1, 2, 3, 4].
The 28-year-old Jokić has two years left on his Denver contract worth $121.8 million. His second year (2027-28) is a player option, allowing him to become a free agent next summer [1, 2, 3, 4, 5]. Giannakopoulos said he plans to try again to sign Jokić when he becomes unrestricted in summer 2027 [1, 2, 3, 4, 5].
Jokić has publicly expressed his intention to stay with the Nuggets but has delayed signing a max contract extension this summer for financial reasons. The Nuggets reportedly plan to offer him a historic five-year, $359.5 million max extension in July 2027 [2, 4, 5].
Giannakopoulos has targeted Denver players before, including Jonas Valančiūnas, who left the NBA for European basketball this summer [2, 4]. Panathinaikos finished seventh in last season’s EuroLeague with a 22-16 record and exited in the first playoff round [1].
Giannakopoulos said, "It took a few seconds [for the Nuggets] to say, 'Who? Greece? Where? What? Bye.' But let's wait until next year" regarding the buyout offer [2]. The next key development will be Jokić’s contract option and free agency eligibility in summer 2027, when Panathinaikos may renew their pursuit.
