Three-time NBA MVP Nikola Jokić 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.

Nikola Jokic has informed the Nuggets he will not sign a contract extension this offseason, team sources told The Denver Post, as the three-time MVP intends to wait until next summer to engage in contract talks.

Three-time MVP Nikola Jokić became eligible to sign an extension with the Denver Nuggets on Tuesday, but has informed the organization that he will not do so this summer, according to the Denver Post.