Jonas Valanciunas’ flirtation with Greek powerhouse Panathinaikos was real and they reportedly were willing to offer three years, $13 million (one of the largest contracts on the continent).
The problem for Valanciunas: He was already under contract to the Denver Nuggets, who had traded for his rights from the Sacramento Kings. Denver had no intention of buying out Valanciunas, he is the best backup center Nikola Jokić will have ever had and a key part of the depth the team added over the summer to chase another ring. Valanciunas confirmed he is committed to the Nuggets next season, speaking to Donatas Urbonas of BasketNews.com.
“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.”
Valanciunas is under contract for $10.4 million for this season, and he has a non-guaranteed $10 million for the 2026-27 season. After Denver made the trade to acquire the veteran center from Lithuania, general manager Ben Tenzer said he spoke with Valanciunas and his representatives, stating that they wanted him to play with them this season and that there was no intention to buy him out. (For Valanciunas to play in Greece next season would have required Denver to agree to a buyout to make him a free agent, FIBA rules do not permit a player under contract in one league to just sign a contract with another.)
Valanciunas is critical to Denver’s plans next season, which is why there was never a plan to buy him out of his contract. For a number of years — including during their championship run in 2023 — the Nuggets have fallen off sharply in the minutes Jokic was off the court. Last season, the Nuggets had a -8.5 net rating in the non-Jokic minutes, and in the 2023 championship season, it was even worse, at -9.9. Valanciunas helps change that because he is a skilled big man who can serve as the hub of an offense, executing dribble handoffs while midrange shots (inside 15 feet). Paired with Peyton Watson, Tim Hardaway Jr., Bruce Brown, and the emerging Julian Strawther, the Nuggets have real depth for a change.