What happened: Spencer Jones will remain with the Denver Nuggets on a two-year offer sheet worth approximately $12 million. The deal pays $6 million in Year 1 before declining to $5.75 million in Year 2.
Why it matters: Denver prioritized rotation continuity despite entering the second apron for the upcoming 2026-27 season. That designation limits future roster-building flexibility and increases the value of potential in-season salary relief.
By the numbers: The match adds $32 million to Denver's projected tax penalty, lifting it from $36 million to $68 million. Jones' second-year salary is $250,000 lower than his first-year figure.
What to watch: Denver's next roster moves will determine whether it carries the full tax burden into the season or creates financial relief through trades.