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Giannakopoulos Rejects Jokic Buyout, Targets Panathinaikos Reinforcements

8/11/2026

30 3 Full Breakdown

Summary

Jokic Stays

Greek billionaire Dimitrios Giannakopoulos offered the Nuggets a buyout of Nikola Jokic’s final contract year, which the team rejected.
Jokic holds a $62.8 million player option for 2027-28 that he is expected to decline, which would make him eligible for a $359.5 million, five-year supermax, probably the NBA’s largest contract.
Jokic said his “idea and desire” is to stay in Denver for his entire career.

Summary

Panathinaikos Targets

Panathinaikos is targeting Joel Bolomboy, former NBA player Maxi Kleber and Max Heidegger to strengthen the squad around Dan Oturu and Zach LeDay.
Owner Dimitris Giannakopoulos praised coach Zeljko Obradovic’s return and the involvement of club legends Dimitris Diamantidis, Mike Batiste and Fragiskos Alvertis.
Giannakopoulos said Panathinaikos values immediate contributors with strong character, stressing teamwork and humility over ego.

History

Historical Context

The NBA’s first salary-cap era began with the 2005 collective bargaining agreement, which locked players into a 57 % share of basketball-related income and set a hard-cap framework later contested in the 2011 lockout. That precedent shapes today’s contract chase for Nikola Jokic and Panathinaikos owner Dimitrios Giannakopoulos’s roster rebuild, as teams balance cap limits with competitive goals.

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Jokic Stays

Greek billionaire Dimitrios Giannakopoulos offered the Nuggets a buyout of Nikola Jokic’s final contract year, which the team rejected.
Jokic holds a $62.8 million player option for 2027-28 that he is expected to decline, which would make him eligible for a $359.5 million, five-year supermax, probably the NBA’s largest contract.
Jokic said his “idea and desire” is to stay in Denver for his entire career.

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