Nuggets Announce Jonas Valanciunas Trade with Kings amid Panathinaikos Rumors

Jonas Valančiūnas is officially heading to the Denver Nuggets, his new team announced Sunday.

The announcement from the Nuggets comes amid rumors that the big man is entertaining the idea of seeking a contract with Panathinaikos in Greece.

The Nuggets traded Dario Šarić to the Sacramento Kings in return for Valančiūnas on July 1, but NBA insider Marc Stein reported a few days after the deal that the idea of playing in Europe held "strong appeal" for Valančiūnas as he mulled whether to seek a buyout from Denver.

NBA insider Jake Fischer noted that Valančiūnas had "received a lucrative offer from Panathinaikos," though that offer wasn't going to impact the trade between the Kings and Nuggets. Valančiūnas is set to earn $10.4 million in the NBA this season and $10 million during the 2026-27 campaign.

ESPN's Shams Charania reported on July 6 that Denver "fully intends to have him honor his contract" and views him as a "critical center addition" behind Nikola Jokić.

As Denver awaited Valančiūnas' decision, Stein reported last week that the trade remained "on course to be made official later this week."

Valančiūnas, who started the 2024-25 season with the Washington Wizards before being traded to Sacramento, put up 10.4 points and 7.7 rebounds in 81 games last year, mostly coming off the bench.

While the 33-year-old is a bit past his prime, he's still more than capable of putting up a double-double on any given night. With the best center in the NBA as the starter and Valančiūnas coming off the bench, Denver will boast a strong combo at the center position this season.