Nuggets Match Thunder Offer Sheet to Keep Spencer Jones

The Oklahoma City Thunder have spent the vast majority of the offseason shedding salary in order to become financially compliant and get below the second apron.

But after trading away key pieces like Isaiah Joe, Aaron Wiggins and Lu Dort, the Thunder countered those transactions by becoming a buyer over the weekend and signing Denver Nuggets restricted free agent Spencer Jones to a two-year, $12 million offer sheet.

And while he would’ve been a great fit for Oklahoma City with his size and defensive versatility, the Nuggets ultimately exercised their right to match the offer and bring him back next season.

That’s important for Denver because Jones played a significant role last year, especially as injuries unfolded. He appeared in 64 games, started 37 of them and also elevated his play during the postseason.

Despite not producing jaw-dropping statistics on an individual basis, Jones became an important piece of the Nuggets’ rotation and someone they clearly weren’t comfortable losing to a division rival.

And although $6 million per season isn’t a massive contract by NBA standards, matching the offer comes at a much larger cost for Nuggets ownership.

Keeping Jones is expected to increase Denver’s current luxury-tax bill by roughly $32 million, pushing the total to around $68 million and moving the franchise into the second apron.

That’s a significant commitment for a player who really broke out last season but isn’t guaranteed to take another leap next year.

The Thunder had an open roster spot and enough flexibility below the second apron to make this offer work. And even though Oklahoma City didn’t ultimately land Jones, it forced a division rival to make an extremely expensive decision.

Denver was comfortable taking that financial hit to retain him.

Now, the Nuggets’ attention will turn toward finding a new deal for Peyton Watson, another key piece of their rotation, as they attempt to keep enough talent around Nikola Jokić to compete for another championship next season.