What Spencer Jones' Next Contract With Nuggets Could Look Like

The Denver Nuggets have more than just one important restricted free agent on tap to re-sign across this offseason.

The biggest name on the Nuggets' roster hitting the open market is none other than Peyton Watson. But beyond him, Denver's also got the situation revolving around 2025 standout Spencer Jones' deal to tack on as well, who's due for a noticeable raise from the two-way deal he started out the 2025-26 campaign on.

However, as to how much Jones will be making next year is a bit trickier to project than Watson's upcoming contract. Between the Nuggets' cap situation, his restricted free agent status, and Jones' individual value to this roster, there are a lot of factors to consider regarding what his next deal (and the numbers attached to it) might look like.

With that in mind, let's take our best shot at breaking down just how much Jones could be making on his next contract with the Nuggets this summer, in the event they're willing to cough up the money to ink him to a new deal.

What the Market Tells Us

Nov 29, 2025; Phoenix, Arizona, USA; Denver Nuggets forward Spencer Jones (21) against the Phoenix Suns at the Mortgage Matchup Center. Mandatory Credit: Mark J. Rebilas-Imagn Images | Mark J. Rebilas-Imagn Images

An easy, yet imperfect way to judge what a free agent contract could look like for a certain player is by looking at similarly-valued names around the market, and their respective deals.

In terms of where Jones lies, looking towards rotational pieces who can play on both ends, but not exactly light up the box score, would tell you that he's worth a little less than $10 million a season. More specifically, around $6 to $8 million a year might make the most sense.

Guys like Saddiq Bey at $6.5 million and Kenrich Williams at $7.1 million a season have a similar rotational role to Jones, and don't exactly stick out as poor deals for the teams that signed them at that number.

For Jones, who's a little more on the unproven side of the equation compared to two tenured veterans, could leave him closer to the $6 million mark than anything higher. However, compared to the $623K rest-of-season deal he signed earlier this year, it'd be a huge, and well-deserved pay raise from what he's been accustomed to.

How His Contract Length Could Look

Dec 25, 2025; Denver, Colorado, USA; Denver Nuggets forward Spencer Jones (21) lines up a three point basket in overtime against the Minnesota Timberwolves at Ball Arena. Mandatory Credit: Ron Chenoy-Imagn Images | Ron Chenoy-Imagn Images

One important factor the Nuggets will have to consider revolving around Jones' next contract will be for just how long they'll be willing to sign him.

On the surface, it feels more likely that Denver would like to keep this deal on a short-term length as opposed to anything steep like three or four years.

Denver's already got significant money tied up on the books for the next several seasons. Some of those investments, such as their $125 million Christian Braun extension signed this past offseason, already look like a deal the Nuggets would like to walk back on. Or at the very least, scale down in terms of the length they'll be paying out that steep money.

They'll probably be eager to avoid a similar situation by inking a recent two-way player like Jones to an extremely lengthy deal after one strong season. More than likely, a two-year deal, or maybe even a short-term, one-year contract would make a whole lot more sense for Denver.

Doing so keeps them flexible for the near future, but also ensures they can retain a key component of their frontcourt rotation for the next two years while their title window at least remains cracked open with a talent like Nikola Jokic still playing within the prime years of his career.

Contract Prediction: $13M/2Y

This feels like a fair estimate of what Jones might not only be worth on his next deal, but also could be a mark that the Nuggets are still willing to pay without digging themselves into a deeper hole financially.

It keeps him on an affordable contract that, if it includes taking Cameron Johnson, Zeke Nnaji, and Jonas Valanciunas off the books, combined with signing Watson to around $20 million a season, allows Denver to stay under the dreaded second apron line, but also retains a key fixture of their defense for the next two seasons.

At a low number like $6.5 million a season, it also leaves a good amount of room for Jones to outplay that number if he continues to grow into his 3&D role, and thus provide for a valuable two-way piece that Denver can lean on in multiple lineups deep into the year with postseason rotational minutes.

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