The Denver Nuggets have made their decision on the offer sheet that the Oklahoma City Thunder gave to Spencer Jones.
On Saturday, it was revealed that the Thunder signed Jones to a two-year, $12 million offer sheet to bring Jones into the fold.
On Sunday, the Nuggets made their decision on the Jones offer sheet, as the team decided to match it and face the financial consequences of the luxury tax penalties associated with it, as the team is now in the second apron — the only NBA team currently in the second apron.
Nuggets Match Spencer Jones Offer Sheet
ESPN’s Shams Charania reported late Sunday that the Nuggets decided to match the Thunder’s two-year, $12 million offer sheet for Jones.
“The Denver Nuggets are matching the Oklahoma City Thunder’s two-year, $12 million offer sheet on Spencer Jones, retaining the key forward in restricted free agency, sources tell ESPN. Nuggets valued keeping their homegrown player whom they landed on an undrafted deal in 2024,” Charania wrote on X.
“By matching Jones’ sheet, the Nuggets face a $32 million increase in current luxury taxes ($36M to $68M) and enter the second apron. They are deep in tax bills but could shed money via trades in season. Next Denver order of business: Navigate retaining RFA Peyton Watson while the Hawks, Bucks and Clippers pursue him,” added Charania.
“The Nuggets are the only NBA team in the second apron,” Charania wrote.
Nuggets Had to Keep Spencer Jones
While the luxury tax penalties associated with going into the second apron are surely going to be painful for Denver’s ownership group to stomach, the team had to keep Jones, as he is an important glue player that the team clearly valued.
The 25-year-old Jones was signed as an undrafted free agent by Denver in 2024 and played in just 20 NBA games in his rookie season. But this past year, he got a lot more playing time for the Nuggets, playing in 64 games for the team, including 20 starts, and averaging 5.5 points and 3.3 rebounds for Denver.
It was a really nice year for Jones, and after looking so good in a reserve role, it made sense why the Thunder wanted to try and poach him from their Western Conference rival.
That being said, while the Thunder gave Jones as much as they could on an offer sheet to stay under the second apron in their own right, it just wasn’t enough money for the Nuggets to balk at, as they decided to match the deal.
Now, the question for the Nuggets is what will happen with Peyton Watson, who is also a restricted free agent.
Though Watson understandably wants a big contract from Denver or another team in restricted free agency, there aren’t a ton of teams out there with the kind of money to offer him what he wants. So it’s possible that Watson could even take his qualifying offer and play out the final season of his RFA eligibility with Denver before becoming an unrestricted free agent next year, though it remains to be seen.
Nuggets Make Decision on Spencer Jones Offer Sheet