The Denver Nuggets have matched the Oklahoma City Thunder's two-year, $12-million offer sheet for Spencer Jones and will retain the forward in free agency, sources told ESPN's Shams Charania.
The Thunder agreed to the offer sheet with Jones on Saturday, and the Nuggets had until midnight on Sunday to match it.
After going undrafted out of Stanford in 2024, the 6-foot-7 Jones signed a two-way deal with Denver and played 20 games in his first season. He had a breakout campaign in Year 2, which included the Nuggets converting his two-way contract to a standard NBA deal in February.
Jones, 25, started in 37 of 64 appearances and played 22.1 minutes per contest in his second season (up from 6.3 as a rookie). He averaged 5.5 points and 3.3 rebounds while shooting 39.6% from three on 2.3 attempts per game.
The Nuggets reportedly face a substantial tax penalty after matching Jones' sheet. They will see a $32-million increase in luxury taxes - from $36 million to $68 million - and enter the second apron.
