DENVER — Three-time NBA MVP Nikola Jokic has decided to delay a contract extension with the Denver Nuggets this summer, a person with knowledge of the matter told The Associated Press on Tuesday night.

The person spoke to the AP on condition of anonymity because neither Jokic nor the Nuggets have addressed the matter publicly. It doesn’t affect Jokic’s status in Denver in the short term: He has at least two years remaining on his deal — $55.2 million this season and $59 million in 2026-27, along with a player option in 2027-28 worth nearly $63 million.

READ: NBA: Nikola Jokic earns 5th consecutive top-2 MVP vote finish

Jokic became eligible Tuesday to sign an extension that could have added three years and around $212 million to his contract. By waiting until next summer to sign, Jokic would be eligible to add four years to his deal at even more money than this summer’s extension would have guaranteed.

The Denver Post first reported the decision from Jokic.

Josh Kroenke, the vice chairman of Kroenke Sports and Entertainment, explained earlier this offseason the team was going to present both options to Jokic — and respect his decision.

“I’m not sure if he’s going to accept it or not, because we’re also going to explain every financial parameter around him signing now versus signing later,” Kroenke said.

The 30-year-old from Serbia is coming off a historic season in which he became the first NBA center to average a triple-double — 29.6 points, 12.7 rebounds, 10.2 assists — and finished runner-up to Oklahoma City’s Shai Gilgeous-Alexander in the MVP voting. The only other players who averaged a triple-double are Russell Westbrook and Oscar Robertson.

READ: NBA: Nikola Jokic becomes 3rd player to average triple-double

It was a trying season for Jokic and the Nuggets in which coach Michael Malone and general manager Calvin Booth were fired with three games remaining in the regular season.

Jokic and the Nuggets went 3-0 to close out the season, beat the Los Angeles Clippers in seven games during the first round of the playoffs and took the eventual NBA champion Thunder to seven games in Western Conference semifinals before being eliminated. Jokic averaged 26.2 points and 12.7 rebounds in the postseason run.

Once again, Jokic was his usual contribute-in-any-way facilitator. He finished with a franchise-record 34 triple-doubles in the regular season, including a 61-point triple-double.

In addition, he became the fastest player in NBA history (739 games) to notch 16,000 points, 8,000 rebounds and 5,000 assists. The previous mark was held by Hall of Famer Larry Bird, who reached those numbers in 799 games.

A second-round pick by Denver in 2014, Jokic has blossomed into a five-time All-NBA first-team player. He led the Nuggets to their first title in 2023 and earned the Finals MVP award.

READ: NBA: Nikola Jokic says Nuggets gave notice on Mike Malone firing 

This season, he will have a new coach in David Adelman, who was hired on an interim basis when the Nuggets fired Malone and was promoted to the permanent job. There’s a new front-office structure, too, led by executive vice presidents Ben Tenzer and Jonathan Wallace. They’ve vowed to be aggressive in building another title contender around Jokic in his championship window.

The executive tandem made a splash by breaking up the core of Jokic, Aaron Gordon, Jamal Murray and Michael Porter Jr. by trading Porter and a first-round pick to Brooklyn for Cam Johnson. The team has also brought back Bruce Brown — an integral piece in their championship run — and added sharpshooting wing Tim Hardaway Jr.

ESPN reported earlier this month the Nuggets sent Dario Saric to the Sacramento Kings for Jonas Valanciunas, a center who can back up Jokic. The deal hasn’t been announced yet.

Jokic is spending his offseason back in Serbia, where recently he was seen cheering one of his prized racehorses to a victory.