NBA Trade Report: Denver Nuggets complete Jonas Valančiūnas trade despite Panathinaikos’ $36m offer

The Denver Nuggets recently strengthened their squad by adding depth and height to their frontcourt, acquiring Jonas Valančiūnas from the Sacramento Kings in exchange for Dario Šarić.

However, it was recently reported that Valančiūnas is close to accepting an offer from Greek club Panathinaikos Athens. According to BasketNews, the Greek giants are offering the 33-year-old a three-year deal worth approximately $13 million.

Despite these reports, NBA insider Marc Stein took to X (formerly Twitter) to confirm that the Nuggets’ management will proceed with the pending trade for the veteran center.

“The Denver Nuggets are going ahead with their trade for Jonas Valančiūnas and remain determined to keep the veteran big man they hope to install as their backup to Nikola Jokić, despite Valančiūnas’ offer from Greek giants Panathinaikos,” Stein wrote.

ESPN’s Shams Charania added that the Nuggets have already informed Valančiūnas’ representatives that they expect him to honor his contract.

Denver has informed Jonas Valanciunas’ reps that the franchise fully intends to have him honor his contract as the Nuggets view Valanciunas as a critical center addition to back up Nikola Jokic and play alongside him. Greek team Panathinaikos pursued Valanciunas in recent days. https://t.co/a6SGnWFeLh

— Shams Charania (@ShamsCharania) July 6, 2025

“Denver has informed Jonas Valančiūnas’ reps that the franchise fully intends to have him honor his contract, as the Nuggets view Valančiūnas as a critical center addition to back up Nikola Jokić and play alongside him. Greek team Panathinaikos pursued Valančiūnas in recent days,” Charania reported.

Valančiūnas is currently set to earn $10.4 million with the Nuggets under his existing contract, which includes a team option for the 2026–27 season worth $10 million—subject to the franchise’s discretion. To join Panathinaikos, he would need to negotiate a buyout from the remaining two years and $20.4 million on his contract. Panathinaikos is reportedly offering a lucrative three-year deal worth $36 million.

Valančiūnas is viewed by Nuggets management as an ideal backup to star center Nikola Jokić. The veteran big man was productive last season, averaging 10.4 points and 7.7 rebounds per game in 81 appearances for the Kings and the Washington Wizards. That he came off the bench in 21 of those games makes him a great fit for the Nuggets’ rotation.

By retaining the Lithuanian, the Nuggets avoid entering a shallow free-agent market, where quality big men are in short supply.

Selected fifth overall in the 2011 NBA Draft by the Toronto Raptors, Valančiūnas has also played for the Memphis Grizzlies, New Orleans Pelicans, and Washington Wizards. In 13 NBA seasons, he split the 2024–25 season between the Wizards and Kings. He averaged 11.5 points and 8.2 rebounds in 20.1 minutes over 49 appearances with Washington, and 8.7 points and 7.0 rebounds in 16.9 minutes over 32 games with Sacramento.

Notably, Valančiūnas has started in 848 of the 937 NBA games he has played. From 2019 to 2023, he averaged a double-double each season. He owns career averages of 13.1 points and 9.3 rebounds, while shooting 56% from the field and 34.1% from three-point range.

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