Nuggets match Thunder $12M offer sheet for Spencer Jones

The Denver Nuggets have matched a two-year, $12 million offer sheet for forward Spencer Jones, retaining the restricted free agent after the Oklahoma City Thunder presented the deal. The Nuggets met the deadline of 11:59 p.m. ET on Sunday, July 26, to keep the 25-year-old wing player.

Jones, who went undrafted out of Stanford, initially joined Denver on a two-way contract in 2024 before being converted to a standard deal in February 2025. Last season, he played a career-high 64 regular-season games, averaging 5.5 points and 3.3 rebounds while making 37 starts. He also contributed in the playoffs, starting three of six games.

The Thunder had submitted the fully guaranteed offer sheet on Saturday, July 25, putting pressure on the Nuggets' front office. By matching, Denver commits to a significant financial penalty. The team's projected luxury tax bill for the upcoming season will increase from approximately $36.4 million to $68.6 million, pushing the franchise into the second apron of the NBA's luxury tax. This complicates the Nuggets' other roster decisions, most notably the ongoing restricted free agency of forward Peyton Watson.

For Oklahoma City, the failed pursuit of Jones...