Nuggets match $12m offer sheet, retaining Spencer Jones in business-driven decision
The Denver Nuggets exercised their right to match a two-year, $12 million offer sheet from the Oklahoma City Thunder, keeping Spencer Jones on the roster. The move leaves the Thunder as the sole NBA team on the second apron, necessitating immediate roster adjustments.
The Denver Nuggets have retained restricted free agent Spencer Jones after matching a two-year, $12 million offer sheet from the Oklahoma City Thunder. The decision was finalised with one hour remaining in the 48-hour window allotted to the club, confirming Jones’ future with the franchise that developed him.
Jones, 25, described the sequence of events as a calculated business move. In a statement posted to LinkedIn, the guard explained that while he signed the offer sheet to secure financial compensation, his ultimate priority remained landing in an environment aligned with his skillset and championship aspirations. He noted that both Denver and Oklahoma City met these criteria, but the offer sheet served as a mechanism to ensure he received appropriate guaranteed compensation regardless of the outcome.
The contract represents a significant milestone in the player’s career. Jones, who went undrafted in the 2024 NBA draft, converted from a two-way contract to a standard deal in February 2026. He stated that the agreement marks the largest fully guaranteed offer sheet ever signed by an undrafted player who transitioned from a two-way contract.
Jones’ development has been a notable success story for Denver. After five collegiate seasons at Stanford between 2019 and 2024, he progressed to become a starter in 37 of 64 regular-season games during the 2025–26 season. His contributions included averaging 5.5 points and 3.3 rebounds, shooting 39.6 per cent from three-point range, and recording a 20-point performance in the team’s Round 1 series against the Minnesota Timberwolves.
The Oklahoma City Thunder’s attempt to acquire Jones was driven by a vacancy created in their standard 15-player roster following a three-team trade that sent Lu Dort to the Atlanta Hawks. However, the acquisition strategy has left the Thunder as the sole team in the NBA situated on the second apron. This status imposes strict financial and roster construction restrictions, requiring the organisation to make difficult cuts to comply with league regulations.
