The Oklahoma City Thunder have put the Denver Nuggets on the clock to keep restricted free agent Spencer Jones after signing him to an offer sheet. Per ESPN's Shams Charania, the Nuggets will have until 11:59 ET Sunday night to match the offer sheet, or Jones will join a team fans are going to hate to see him slip away to.
Denver restricted free agent Spencer Jones has agreed to a two-year, $12 million offer sheet with the Oklahoma City Thunder, Adam Godes of ADS Sports tells ESPN. Jones was a key contributor for the Nuggets last season, including an NBA-best 69% from 3-point range during the… pic.twitter.com/qMi8VGYav9
— Shams Charania (@ShamsCharania) July 25, 2026
Charania reports that the Thunder and Jones agreed to a two-year, $12 million offer sheet. It's more than I was expecting Jones to get offered by anyone, but kudos to Jones for believing in himself and holding out for more than a minimum salary offer.
And kudos to Thunder GM Sam Presti for forcing the Nuggets to show their cards, and so we get an idea if they're truly going to pay some hefty luxury tax fines to build the best roster around Nikola Jokic this upcoming season, or if they're going to build out to the second-apron penalty threshold only.
The Nuggets will only get worse and older if they lose Jones
If the Nuggets choose to go the "cheap" route and let Jones walk to their bitter rival, they'll only get worse and older. Jones would provide great depth off the bench this year. He shot a spectacular 39.6% from beyond the arc, and he plays great defense. Jones is physical, and he hustles with a high motor.
And at only 25, Jones has the potential to keep developing. He has good upside potential, and he showed during the playoffs that he can take on a major support role when needed, scoring 20 points in Game 5 of the first round against the Minnesota Timberwolves.
That level of upside at $6 million per year is hard to pass up. The Nuggets are going to be hard-pressed to find someone with as much upside and talent at this age at this price point still left on the free agent market.
The Nuggets would be facing more than a simple salary
Unfortunately, the NBA is a business, and sadly, for the Nuggets to retain Jones, they would have to pay more than just the $6 million in salary. They would also be hit with additional fines, which can add up dramatically because of the Nuggets' status as a repeater for exceeding the luxury tax threshold. Those fines increase if the Nuggets violate the second-apron penalty threshold.
Kroenke Sports Entertainment, the Nuggets ownership group, has never been known as a free-spender. That will have to change this year for the Nuggets to remain competitive. Letting Jones go would be the first step in losing that competitive edge.
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