Sam Presti turned up the temperature on Denver’s offseason. The Nuggets welcomed the heat.
Faced with a decision between losing restricted free agent Spencer Jones to a rival contender for nothing in return or entering the NBA’s dreaded second apron, the Nuggets chose the latter Sunday night. They are matching Oklahoma City’s two-year, $12 million offer sheet to Jones, a league source told The Denver Post, warding off the Thunder general manager’s shrewd attempt to poach the 25-year-old wing.
Jones will remain in Denver. His new contract will pay him $6 million next season, a significant upgrade from the $2 million per year offer that he declined in February when Denver converted him from a two-way contract. He joined the team as an undrafted free agent out of Stanford in 2024.
With the move to retain him, the Nuggets have entered the second apron, at least temporarily. Presti gave Jones the offer sheet after Oklahoma City had already executed several cost-cutting moves this offseason to duck the same threshold, which only one team (Cleveland) exceeded last season. The second apron is a luxury tax mechanism introduced in the 2023 collective bargaining agreement that imposes severe financial and roster-building restrictions on teams with exceptionally high payrolls.
The Nuggets have not finished a season in the second apron since its creation. They could still make other moves to maneuver out of it this summer or before the trade deadline next season. If they finish the 2026-27 league year over the apron, their 2034 first-round draft pick will become “frozen” and ineligible to be traded.
After matching OKC’s offer sheet on Jones, Denver has 12 players under contract next season on the 15-man roster and an estimated $68 million luxury tax bill, according to ESPN front office expert Bobby Marks. Thatap not accounting for Peyton Watson, another restricted free agent who’s not currently on Denver’s books.
The luxury tax bill will increase exponentially with every dollar added to the payroll due to Denver’s status as a “repeater tax” team.
