Story perspectives

Nuggets Match $12M Jones Offer, Luxury Tax Hits $68M

7/28/2026

Summary

Story summary

The Denver Nuggets matched the Oklahoma City Thunder's $12 million fully guaranteed offer sheet for forward Spencer Jones on July 27, 2026, and must keep the undrafted free-agent they signed in 2024.
The match increased Denver's luxury-tax bill by $32 million to $68 million, placing the franchise as only NBA team in the second-apron tier.
Denver said it may shed salary via trades and is retaining free agent Peyton Watson, pursued by Atlanta, Milwaukee and Los Angeles.

History

Historical Context

Following the 1999 lockout, the NBA instituted a dollar-for-dollar luxury-tax, prompting the 2005-06 New York Knicks to pay $62.3 million on a $124 million payroll. The 2011 CBA introduced tiered brackets, and the 2023-24 deal created a second apron about $17.5 million over the threshold. Denver’s $12 million Spencer Jones offer, matching Oklahoma City’s, drives its tax bill toward historic levels.

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Story summary

The Denver Nuggets matched the Oklahoma City Thunder's $12 million fully guaranteed offer sheet for forward Spencer Jones on July 27, 2026, and must keep the undrafted free-agent they signed in 2024.
The match increased Denver's luxury-tax bill by $32 million to $68 million, placing the franchise as only NBA team in the second-apron tier.
Denver said it may shed salary via trades and is retaining free agent Peyton Watson, pursued by Atlanta, Milwaukee and Los Angeles.

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