The Denver Nuggets are holding onto forward Spencer Jones, matching a two-year, $12 million fully-guaranteed contract offer that the Oklahoma City Thunder extended to the young player, according to ESPN.
The Thunder submitted the offer sheet to Jones — a restricted free agent — on Saturday, giving Denver until 11:59 p.m. ET Sunday night to decide whether to keep him. The Nuggets chose to match it, retaining the 25-year-old on their roster.
Jones came to Denver as an undrafted free agent out of Stanford, initially signing a two-way contract in 2024. The team converted that deal into a standard NBA contract in February.
During the most recent regular season, Jones appeared in 64 games, starting 37 of them. He averaged 5.5 points, 3.3 rebounds, and 22.1 minutes per game while shooting 50.4 percent from the field — connecting on 132 of 262 attempts. In the playoffs, he started three of six games and bumped his averages to 6.5 points, 2.0 rebounds, and 24.2 minutes per outing.
Across his two NBA seasons, Jones has played in 84 regular-season games with 37 starts, averaging 4.5 points, 2.7 rebounds, and 18.4 minutes per game for his career.
The financial impact of keeping Jones is notable. ESPN reported the decision pushes Denver’s luxury tax bill up by $32 million to a total of $68 million and moves the team into the NBA’s second apron — a threshold that carries additional roster and transaction restrictions.
Meanwhile, Oklahoma City now has one open roster spot following the July 19 trade of wing Luguentz Dort to the Atlanta Hawks, according to The Oklahoman. The Thunder currently sit about $6.9 million under the second apron.
