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NBA

The Nuggets Match the Thunder’s Offer for Spencer Jones and Dip into the Second Apron

The Nuggets retain Spencer Jones by matching OKC's two-year, $12 million offer, at the cost of a $68 million tax penalty and an unprecedented entry into the second Apron.
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The Nuggets Match the Thunder’s Offer for Spencer Jones and Dip into the Second Apron

Apr 23, 2026; Minneapolis, Minnesota, USA; Minnesota Timberwolves forward Jaden McDaniels (3) shoots against Denver Nuggets forward Spencer Jones (21) in the first quarter at Target Center. Mandatory Credit: Bruce Kluckhohn-Imagn Images

Photo Credit : © Bruce Kluckhohn-Imagn Images

Denver has decided to keep one of its key contributors. According to information reported by ESPN, the Colorado franchise has officially matched Oklahoma City‘s offer for Spencer Jones. The contract in question is two years long and fully guaranteed for a total of $12 million.

The Price of Continuity for Denver

By matching the Thunder’s offer, the Nuggets cross a significant financial threshold. The franchise enters the second Apron for the first time under the current CBA, and sees its tax penalty nearly double: it jumps from $36 million to $68 million, an increase of $32 million. Since the luxury tax system was introduced in 2002-2003, Denver had paid only $53 million in penalties in total. With a single decision, the Nuggets have nearly equaled that all-time total.

Spencer Jones — best games

Despite this financial burden, the franchise determined that Jones was worth the investment. The player, undrafted out of Stanford in 2024, had joined Denver without any guarantees before gradually earning a spot in David Adelman’s rotation. Had the Nuggets not matched, they could only have offered him a veteran minimum contract in an attempt to retain him, according to ESPN.

A Valuable Player, Especially in the Playoffs

During the 2025-2026 regular season, Spencer Jones appeared in 64 games, including 37 starts, averaging 5.5 points and 3.3 rebounds while shooting 50.4% from the field and 39.6% from three. Solid numbers for a rotation player, but it was in the Playoffs that he truly shone.

With Aaron Gordon forced to rest, Jones seized his opportunity and put up an exceptional shooting performance: 68.4% from the field and 69.2% from three-point range over six games, the best three-point shooting in the entire NBA postseason. He notably scored 20 points in Game 5 against the Timberwolves.

The Nuggets’ summer is far from over, however. Denver still needs to handle the Peyton Watson situation, another restricted free agent being actively pursued by the Hawks, the Bucks, and the Clippers. Watson is reportedly seeking a contract in the range of $25 million per season. The Nuggets are said to be open to a sign-and-trade, but if an offer were submitted and matched, the franchise’s tax penalty could climb even higher. A financial headache that promises to keep Denver busy right up until the end of Free Agency.

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Nicolas Flamecourt
With a background in sports management, Nicolas Flamecourt covers NBA news with a particular passion for the North American league, which he has been following for several years. He also covers the NCAA, including news and scouting of future prospects, and regularly conducts interviews with French players as well as players competing in Europe.