Panathinaikos Owner Targets Nikola Jokic With 'Serious' Buyout Proposal

Dimitrios Giannakopoulos attempted to buy Nikola Jokic out of his Denver Nuggets deal, which currently has two seasons and $121.8 million remaining.

Dimitrios Giannakopoulos, the owner of Panathinaikos Basketball Club in Athens, Greece, confirmed he submitted a serious proposal to the Denver Nuggets to buy out the final season of the Nikola Jokic contract. The three-time NBA MVP currently has two years and $121.8 million remaining on his deal, though the second season is a player option. While the Nuggets reportedly rejected the overture in seconds, Giannakopoulos expressed confidence during an appearance on the "Euro Insiders" podcast that he can sign the superstar center when he becomes an unrestricted free agent next summer.

Jokic became eligible for a four-year, $278 million maximum extension on June 14 but has declined to commit to the paperwork. According to ESPN NBA front office insider Bobby Marks, the Serbian center will be eligible for a five-year, $359.5 million extension in July 2027, which would represent the largest contract in the history of the league. Although Jokic stated his desire is to remain in Denver for his entire career, he is currently waiting to sign any new agreement for financial reasons. Giannakopoulos challenged skeptics to contact Jokic’s agent, Misko Raznatovic, to verify the legitimacy of the Greek club's pursuit.

Nuggets Roster Movements and Free Agency

The Denver front office has focused on maintaining an expensive roster while navigating specific personnel changes. The team recently matched a two-year, $12 million offer sheet for reserve wing Spencer Jones, who had signed with the Oklahoma City Thunder. Additionally, the Nuggets added veteran center Marvin Bagley III to the rotation. These moves come as the organization continues ongoing restricted free agency negotiations with Peyton Watson.

Giannakopoulos previously targeted Denver’s frontcourt by attempting to lure Jonas Valanciunas to Greece last summer. While that pursuit caused significant confusion regarding a potential deal, Valanciunas stayed in Denver for the duration of the season. The veteran center has since departed the Nuggets this summer to join Zalgiris Kaunas, a EuroLeague powerhouse based in Lithuania.

Future Free Agency Outlook for 2025

The rejection of the buyout offer has not deterred Panathinaikos from planning a future pursuit. Giannakopoulos noted that the Nuggets' immediate reaction was dismissive, questioning the location and identity of the bidding team before ending the conversation. However, the Greek businessman emphasized a strategy of waiting until next year when the player option provides Jokic the freedom to enter the open market.

Jokic’s current financial structure allows him to bypass the final year of his $121.8 million total remaining salary to seek a new deal. The Nuggets have kept the core of their lineup intact despite the quiet free agency period and the loss of Valanciunas. The focus remains on the July 2027 window for the record-breaking $359.5 million extension, even as international suitors prepare aggressive offers for the summer of 2025.