Denver Nuggets forward Spencer Jones has detailed the business considerations that led him to sign a fully guaranteed two-year, $12 million offer sheet with the Oklahoma City Thunder, a deal the Nuggets ultimately matched.
Jones stated on LinkedIn that his decision was guided by clear priorities: a team that fit his skillset, a championship culture, and an organization he believed in. He noted that both Denver and Oklahoma City met these criteria, ensuring a favorable outcome regardless of whether the Nuggets matched the offer.
"This is a business. Front offices treat it that way every day and players have to do the same," Jones wrote. "I went into free agency with clear priorities... Either way, I was landing somewhere that made sense."
The offer sheet also made history, as it represented the largest fully guaranteed deal ever signed by an undrafted player coming from a two-way contract. "From a two-way with no safety net to this. I don’t take that lightly," Jones added.
Jones joined the Nuggets in 2024 on a two-way contract after a five-season college career at Stanford, where he averaged 11 points per game on 43.9 percent shooting. Although his rookie season saw limited contribution, he became a more significant player in his second year, starting 37 of 64 games. During the 2026 playoffs, he led the league with a 69.2 percent three-point shooting percentage. In the regular season, he averaged 5.5 points and 3.3 rebounds.
While Jones' decision keeps him with the Nuggets, the new contract is expected to push the team over the second apron of the NBA's collective bargaining agreement. His $12 million deal is projected to increase the Nuggets' tax penalty by approximately $32 million, nearly doubling it from $36 million to $68 million, according to ESPN reports.