Thunder Miss Out on Spencer Jones as Nuggets Match Two-Year Offer Sheet

The Oklahoma City Thunder’s search for additional bench depth will continue after the Denver Nuggets decided to retain forward Spencer Jones by matching the two-year offer sheet he signed with Oklahoma City.

Multiple reports said the Thunder offered Jones a fully guaranteed two-year contract worth $12 million on Saturday. Denver had until the end of Sunday to decide whether to match the offer and keep the restricted free agent or allow him to join Oklahoma City. ESPN’s Shams Charania was the first to report that the Nuggets chose to match the deal, ensuring Jones remains in Denver.

The decision comes after Jones established himself as a valuable contributor during the latter part of last season. The 6-foot-7 forward averaged 5.5 points per game while shooting 50.4% from the field in the regular season. He also started 37 games, earning a larger role in Denver’s rotation.

Jones carried that momentum into the playoffs, where his production improved to 6.5 points per game across 24 minutes of action. His outside shooting proved especially effective, as he connected on 69.2% of his three-point attempts during a six-game playoff series against the Minnesota Timberwolves.

For the Thunder, the unsuccessful pursuit means the franchise remains without a reported external free-agent addition this offseason. Oklahoma City has instead focused on retaining key members of its roster, re-signing Isaiah Hartenstein and Kenrich Williams.

The organization has also reshaped its squad through trades rather than major free-agent signings. Aaron Wiggins and Lu Dort were dealt to the Atlanta Hawks, while Isaiah Joe was traded to the Detroit Pistons in exchange for draft picks. Those moves have created an opportunity for the Thunder to continue exploring ways to strengthen their depth ahead of the new season.

Denver’s decision to keep Jones also comes during a busy offseason for the Nuggets. The team entered free agency with Jones and Peyton Watson as important restricted free agents while also seeing veteran Tim Hardaway Jr. depart for the Miami Heat. To reinforce the roster, Denver brought back Tyus Jones and added Marvin Bagley III on separate one-year contracts.

With Jones no longer available, Oklahoma City will now have to look elsewhere as it continues building its roster for the upcoming campaign.