The Thunder forced Denver into a major financial bind by making the Nuggets match Spencer Jones' two-year, $12 million offer sheet, increasing their luxury-tax bill by $32 million and pushing them into the second apron.
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| Credit AP-SCANPIX |
The Oklahoma City Thunder have pushed the Denver Nuggets into a significantly more expensive financial position despite failing to acquire Spencer Jones.
According to ESPN's Shams Charania, Denver matched Oklahoma City's two-year, $12 million offer sheet for Jones, retaining the restricted free-agent forward before Sunday night’s deadline.
The decision increases the Nuggets’ projected luxury-tax payment by approximately $32 million, from $36 million to $68 million, while pushing them into the NBA’s second apron. Denver are currently the league’s only team operating above that threshold.
Oklahoma City makes Denver pay to retain Jones
Although the Thunder did not land Jones, their offer sheet forced the Nuggets to make an expensive decision regarding one of their most valuable homegrown players.
Denver originally signed Jones after he went undrafted out of Stanford in 2024. He began his professional career on a two-way contract before earning a standard NBA deal in February following his emergence as a reliable rotation option.
Jones appeared in 64 games last season, including 37 starts, and averaged 5.5 points and 3.3 rebounds in 22.1 minutes. He shot 50.4% from the field and 39.6% from three-point range.
The 25-year-old also played an increased role during the playoffs, averaging 6.5 points in 24.2 minutes across six appearances while converting 69.2% of his three-point attempts.
Denver ultimately decided that retaining a young player developed within its system was worth the additional cost.
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| Credit Rio Giancarlo/ |
Nuggets become NBA's only second-apron team
Matching the offer sheet carries consequences beyond Jones’ $6 million annual salary.
Denver’s luxury-tax bill is projected to rise from approximately $36 million to $68 million, with the franchise also crossing into the second apron and triggering further roster-building restrictions.
The Nuggets could attempt to reduce their bill through trades during the season, but any salary-cutting move could require them to sacrifice depth or attach draft compensation.
Oklahoma City, meanwhile, created a difficult decision for a Western Conference rival without taking on any long-term financial commitment of its own after Denver matched the contract.
Peyton Watson becomes Denver's next challenge
The Nuggets must now resolve the future of another restricted free-agent forward, Peyton Watson.
According to Charania, the Atlanta Hawks, Milwaukee Bucks and Los Angeles Clippers are all pursuing Watson, placing additional pressure on Denver after its expensive decision to retain Jones.
Keeping Watson could push the Nuggets even deeper into the tax, while allowing him to leave would cost them another important member of their wing rotation.
- BasketNews
