The NBA's reigning back-to-back MVP Nikola Jokic has agreed to the richest deal in league history – signing a five-year, $264million extension with the Denver Nuggets.

Jokic, 27, was a second-round pick in 2014, and after making the All-Rookie First Team in 2016, he evolved into an All-Star and one of the greatest passing big men to ever play.

He has now collected four consecutive All-Star appearances, and in that time he has three All-NBA First Team honours, along with one in the Second Team.

In each of his past two MVP seasons, Jokic has averaged at least 26.4 points, 10.8 rebounds and 7.9 assists per game, and with a game that relies on almost no explosive athleticism at all, he plays a style that projects to age gracefully.

With one season remaining on his current five-year, $147m deal, Jokic's new contract will kick in for the 2023-24 season, meaning he will not become an unrestricted free agent again until after the 2028 playoffs.

The Nuggets made a run to the Western Conference Finals in the 2020 playoffs but have since struggled with the health of star point guard Jamal Murray and exciting wing shooter Michael Porter Jr, who both figure to make their returns near the start of next season.