Spencer Jones isn’t going anywhere after all
The Denver Nuggets matched a two-year, $12 million offer to retain the forward on Sunday night. The Oklahoma City Thunder had tried to land Jones in restricted free agency earlier this weekend with the same fully guaranteed offer. The Nuggets now face a $32 million increase in current luxury taxes and will enter the second apron as a result of the move
Jones, 25, just finished his second season with Denver, averaging 5.5 points and 3.3 rebounds in 22 minutes per game. He appeared in 64 games, starting 37 for the 54-28 Nuggets, who finished third in the Western Conference
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More importantly, Jones shot 40% on 144 3-point attempts. (In the playoffs, he shot 69% on 13 3-point shots.)
For a Thunder team that traded three of its top five 3-point shooters during this offseason, Jones’ long-range accuracy would have been especially valuable. Isaiah Joe (42%) was dealt to the Detroit Pistons, while Lu Dort (372 attempts) and Aaron Wiggins (270 attempts) were shipped to the Atlanta Hawks in separate trades
Oklahoma City traded all three players to save money on its cap sheet and stay below the league’s luxury tax threshold. Jones would have provided a lower-cost option to replace some of that 3-point shooting. Now, though, the Thunder will have to find that solution elsewhere
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Undrafted out of Stanford, Jones signed a two-way contract with the Nuggets for the 2024-25 season. He was converted to a full NBA contract in February 2026
Jones was the second unrestricted free agent to receive an offer sheet during the past week. The New York Knicks signed Dallas Mavericks center Moussa Cisse to a two-year offer worth $4.7 million. However, the Mavericks quickly matched the offer and retained the second-year center
In addition to Jones, the Nuggets have to decide what to do with their other restricted free agent, Peyton Watson, who may be seeking $28 million per year. Watson, who turns 24 in September, averaged 14.6 points, 4.9 rebounds, 2.1 assists and 1.1 blocks in 54 games (40 starts). He shot 41% on 197 3-point attempts
