Koufos, 22, was originally the Utah Jazz's No. 23 pick in the 2008 NBA Draft. He was traded to the Minnesota Timberwolves with draft picks for Al Jefferson in 2010, and flipped to the Nuggets months later in the blockbuster Carmelo Anthony-Danilo Gallinari deal. The Ohio-born Greek is playing 10 minutes per game behind Timofey Mozgov, Nene and Chris Andersen. He is averaging 3.5 points and 3.6 rebounds per game this season.
Earlier on Wednesday, the Nuggets locked up Gallinari to a four-year deal worth a reported $42 million. Nene was locked up on a long-term deal in the offseason, and Andersen and Mozgov are also under contract for next season.