Nuggets Forward Turned Down $2 Million. Now He Could Get Double.

Spencer Jones bet on himself, and it looks like that bet is about to pay off in a big way.

The Denver Nuggets forward revealed on LinkedIn that he turned down a guaranteed $2 million per year multi-year contract offer from the team after his two-way deal expired last season. Now, according to a post from Harrison Wind, Jones is negotiating a new deal worth more than double that original offer.

Jones played 64 games last season, starting 37 of them. That’s a huge jump for a guy who spent the first half of the season on a two-way contract, meaning he could only suit up for 50 NBA games. He hit that limit by the All-Star break. The Nuggets could have called him up to the Grand Rapids Gold, their G League affiliate, but instead they offered him a real NBA contract.

Most two-way players would have signed that deal in a heartbeat. Guaranteed money after two years without a safety net? That’s a no-brainer for a lot of guys. But Jones saw something else.

He called the Nuggets’ offer “smart business” from the franchise. Denver wanted to lock him in before the market could decide his value. Jones saw that too. So he said no thanks, signed only for the rest of the season, and hit restricted free agency.

Here’s what he said about the risk: He knew one injury or a cold shooting stretch could wreck everything. He could have ended up with less than that $2 million. But he had a breakout year instead.

Jones averaged 5.5 points, 3.3 rebounds and 0.8 steals per game. Nothing crazy on paper. But he shot over 50% from the field and nearly 40% from three. He turned into a dependable role player for a team that needed depth. That kind of efficiency from a wing who can defend multiple positions? Teams pay for that.

Jones said the lesson wasn’t just about betting on himself. It was about knowing when to take the risk. That timing ended up working out pretty well.

The Nuggets now have a restricted free agent who played meaningful minutes in a playoff rotation. The initial offer seems like a bargain in hindsight. But Denver knew what they were doing too. They offered early, hoping to get ahead of the market. Jones called their bluff. Now both sides are back at the table with different numbers.

Jones is 25. He’s got a reliable jumper and defensive instincts. That’s a combo that gets paid in today’s NBA. The question now is whether the Nuggets will match whatever offer sheet he gets, or if another team will force Denver’s hand.