Jonas Valančiūnas commits to Denver Nuggets, rejects lucrative offer from Panathinaikos

The Denver Nuggets have 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 was close to accepting an offer from Greek club Panathinaikos Athens. According to BasketNews, the Greek giants had offered the 33-year-old a three-year deal worth approximately $13 million.

Despite these reports, the Nuggets’ management proceeded with the trade, informing Valančiūnas’ representatives that they expected him to honor his contract.

Valančiūnas has since put an end to all rumors by committing his future to Denver in an interview with BasketNews:

“I want to clear the air about my playing situation next season now that Denver has made their decision to keep me. The idea of playing for Panathinaikos, closer to home, was very exciting to me, but that will have to wait. I am fully committed to honoring my contract with the Nuggets this season and will give it my all to compete for a championship.”

Jonas Valanciunas spoke with me to clear the air on the Nuggets and Panathinaikos situation:

“I want to clear the air about my playing situation next season now that Denver has made their decision to keep me. The idea of playing for Panathinaikos, closer to home, was very…

— Donatas Urbonas (@Urbodo) July 21, 2025

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—at the franchise’s discretion. To join Panathinaikos, he would have needed to negotiate a buyout from the remaining two years and $20.4 million of his deal. The Greek club reportedly offered a more lucrative three-year, $36 million package.

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. Notably, he came off the bench in 21 of those games, making him a strong fit for the Nuggets’ rotation.

By retaining the Lithuanian center, the Nuggets avoid dipping into a shallow free-agent market, where quality big men are in limited supply.

Drafted 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. He split the 2024–25 season between Washington and Sacramento, averaging 11.5 points and 8.2 rebounds in 20.1 minutes over 49 games with the Wizards, and 8.7 points and 7.0 rebounds in 16.9 minutes across 32 games with the Kings.

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

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