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Spencer Jones Gives Update on Contract Negotiations With Nuggets
Mar 24, 2026; Phoenix, Arizona, USA; Denver Nuggets forward Spencer Jones (21) against the Phoenix Suns at Mortgage Matchup Center. IMAGN IMAGES via Reuters Connect

Spencer Jones Gives Update on Contract Negotiations With Nuggets

Originally posted on Denver Nuggets on SI
By Logan Struck  |  Last updated Jul 2, 2026 9:00 AM ET
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In 2024 undrafted free agency, the Denver Nuggets found a gem in Spencer Jones. A senior forward out of Stanford, Jones was given a two-way contract by the Nuggets. Eventually, Jones earned a standard contract in Denver, as he quickly went from undrafted to a full-time NBA player within two years, signing a rest-of-season deal with the Nuggets in February.

Now, though, Jones is a restricted free agent, and his future with the Nuggets hangs in the balance. Granted, the Nuggets are expected to re-sign Jones to a multi-year deal, and the 25-year-old forward shared an update on LinkedIn about his contract negotiations.

Jones posted that before he signed a rest-of-season deal with the Nuggets in February, he was initially offered "a multi-year deal worth roughly $2 million a year. Guaranteed money." However, he opted not to take it. Now, he says he is "currently negotiating more than double what that deal would have been worth."

Jones implies that he is currently negotiating a new contract with the Nuggets that is worth at least $4 million per year. Of course, turning down a multi-year guaranteed contract was likely a tough decision at the time, but it will certainly pay off for him.

Jones bet on himself

Jones wrote how he knew the Nuggets' strategy to try to lock him down on a cheap deal before he was able to test the market, and rather than signing that deal, he decided to bet on himself. Jones' rest-of-season deal was a risky move.

"It didn't come without risk," Jones wrote. "It meant playing the rest of the season with everything on the line. One bad injury. One long cold stretch. And suddenly all my leverage disappears. Maybe I get less than what they originally offered."

Fortunately for Jones, he stepped up after signing his standard contract. While Jones' stats will not jump off the page, he consistently made an all-around impact to help the Nuggets on both sides of the ball. From playing defense, hustling for rebounds, fighting for loose balls, and hitting open three-pointers, Jones did everything the Nuggets asked of him.

Now, he is on the verge of signing a long-term deal worth double what he could've signed in February, showing that betting on himself was the right choice.

Why Nuggets need to re-sign Jones

While some fans are likely confused as to why Jones' free agency is such a big deal for the Nuggets, they should be doing everything they can to bring him back. For a team that has questionable depth right now, the Nuggets should be desperate to lock him into next season's lineup and beyond.

As it stands, the Nuggets' bench unit consists of just Julian Strawther, Zeke Nnaji, Trevon Brazile, DaRon Holmes, Jonas Valanciunas, Bryce Hopkins, and the newly-signed Marvin Bagley. Sure, it seems like they do not need another forward, but Jones is a very valuable player to have in their second unit and will likely play small forward moving forward, still filling a roster hole.

Even getting Jones at a $4 million price tag would be a bargain, and while the team would've loved to sign him to a multi-year deal worth $2 million per year back in February, they have to respect the young forward betting on himself.

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This article first appeared on Denver Nuggets on SI and was syndicated with permission.

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