The Denver Nuggets will stay in the Mile High City at least until 2040.

According to Mike Singer of Denver Post, the city of Denver and the Nuggets franchise — though Kroenke Sports and Entertainment — reached a “tentative agreement” to keep the team.

Stan Kroenke is the owner of Kroenke Sports & Entertainment. This is the holding company of the Nuggets, Avalanche, English Premier League's Arsenal, NFL's Los Angeles Rams, and Major League Soccer's Colorado Rapids.

His son, Josh, is the president and governor of the Nuggets and Avalanche. He is also the alternate governor of the Rapids.

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Denver Mayor Michael B. Hancock told Alexander Kirk of 9News.com on Thursday that he's looking forward to a long-term collaboration among the city, KSE, the teams, and the sports leagues involved.

The news comes in the midst of the Nuggets and Avalanche's current second-round playoff surge. The Nuggets are tied 1-1 with the Portland Trail Blazers in their best-of-seven NBA playoff matchup. On the other hand, the Avalanche trail the San Jose Sharks 2-1 in their best-of-seven NHL Stanley Cup Playoff series.

Keeping the Nuggets and Avalanche in Denver through 2040 is great news for any Mile High City sports fan. If the Denver Broncos and Colorado Rockies can also make serious noise in the NFL and MLB respectively, the city's sports fans will rejoice even more.