Photo: Peter Baba

Denver Nuggets forward Spencer Jones has explained why he signed an offer sheet with the Oklahoma City Thunder before Denver matched it.

Jones agreed to a fully guaranteed two-year, $12 million deal with the Thunder, but the Nuggets retained him by matching the offer. Some fans criticized him for negotiating with a conference rival.

Jones said the decision was simply part of doing business.

“I get it. But I also need people to understand something,” Jones wrote on LinkedIn. “This is a business. Front offices treat it that way every day and players have to do the same.

“I went into free agency with clear priorities: a team that fits my skillset, a championship culture, and an organization I believe in. Both Denver and OKC checked those boxes. Either way, I was landing somewhere that made sense.”

He also called the contract a major personal achievement.

“From a two-way with no safety net to this. I don’t take that lightly,” Jones said.

After joining Denver on a two-way contract in 2024, Jones broke out last season by starting 37 games, averaging 5.5 points and 3.3 rebounds, and shooting an NBA-best 69.2 percent from three during the playoffs.

Keeping Jones comes at a cost.

According to ESPN, matching the $12 million offer pushes Denver into the second apron and increases its projected luxury-tax bill from about $36 million to $68 million.

Spencer Jones explains 'business decision' that led to historic Nuggets offer sheet match https://t.co/FLIGo4g4Fb pic.twitter.com/ZcUXABLgwe