Nuggets' Updated NBA Salary Cap After Spencer Jones Contract Pushes Team Into Second Apron

The Denver Nuggets are bringing back a key restricted free agent.

Per ESPN's Shams Charania, the Nuggets matched the Oklahoma City Thunder's two-year, $12 million offer sheet to forward Spencer Jones. Denver had until 11:59 p.m. ET on Sunday to match OKC's offer.

With the deal, Denver has now moved into the second apron and will face a $68 million tax penalty.

Had the Nuggets not matched Jones' offer sheet, they would have been left with just a veteran minimum offer to try to replace him, according to ESPN's Bobby Marks.

Jones joined the Nuggets ahead of the 2024-25 campaign after going undrafted out of Stanford. He split time between the G League and the NBA as a rookie but was with Denver for all of the 2025-26 campaign.

He appeared in 64 games and started 37, putting up 5.5 points and 3.3 rebounds on 50.4 percent from the field and 39.6 percent from deep. Jones gave Denver solid minutes in the postseason with Aaron Gordon missing time, posting 6.5 points on 68.4 percent from the field and an efficient 69.2 percent from deep in six games.

The Nuggets have had a quiet summer, mainly due to financial restrictions, but they've managed to bring back roughly the same roster from last year.

The next order of business will be retaining restricted free agent Peyton Watson, who is believed to be seeking a deal worth around $25 million per year. The Nuggets are reported to be open to a sign-and-trade for Watson as well.