In a shocking turn of events, one of the Denver Nuggets’ newest members of the team may not actually be coming to Denver.
Jonas Valanciunas, according to multiple league and international insiders, is considering leaving the NBA and playing for Panathinaikos in the EuroLeague.
Jonas Valanciunas is considering a stunning EuroLeague move and exiting the NBA.
Per BasketNews sources, Valanciunas was lured by Panathinaikos’ multi-year offer.
— Donatas Urbonas (@Urbodo) July 3, 2025
BasketNews sources indicate that the Lithuanian national team center was lured by Panathinaikos’ three-year offer worth nearly €12 million net (approximately $13 million).
Valanciunas’ current NBA contract was only guaranteed through the 2025–26 season, during which the Denver Nuggets would pay him $10.4 million gross.
Valanciunas was “initially happy” about the trade to Denver according to Urbonas, but “the offer from Panathinaikos presented a different kind of opportunity — long-term stability, a major role, and a team built to contend for the EuroLeague title.”
There are many layers to unpack here for Denver. First and foremost, Valanciunas is still required to play for the Nuggets in 2025-26. He has a guaranteed contract, and FIBA will not allow Valanciunas to simply leave Denver and sign with Panathinaikos without first coming to a resolution with the Nuggets. If the trade between the Nuggets and Kings goes through, that leaves the Nuggets and Valanciunas with three options:
- Valanciunas stays in Denver for the 2025-26 season, earns $10.3 million, then the Nuggets decline his team option and allow him to go overseas.
- Valanciunas and the Nuggets agree to a buyout, forcing Valanciunas to give back some or all of the $10.3 million owed to him for the 2025-26 season.
- The Nuggets waive Valanciunas, which would force the Nuggets to pay him all of the $10.3 million for him not to play in Denver.
For Valanciunas, Option 3 is the best but by far the least likely. If he is dead set on leaving the NBA, then the buyout is the most likely outcome. If the Nuggets can convince him to stay in the NBA, Option 1 is still on the table.
For the Nuggets, Option 1 is the best, then Option 2. Option 3 is likely off the table entirely, or else the Nuggets simply wouldn’t consummate the trade with Sacramento.
That leads us to the Sacramento part of the equation. First, did they know this was coming and still try to foist Valanciunas onto Denver in an effort to save salary cap space? Second: if this was always a possibility and the Kings knew Valanciunas was trying to leave the NBA, why didn’t they just agree to a similar buyout without including Denver? It accomplishes the same thing on their end, actually saving them even more space because they wouldn’t have had to take on Saric’s contract.
Whatever the case, it doesn’t seem like the Nuggets or Kings are backing out of the trade at this point, at least according to Jake Fischer of The Stein Line:
Another update on Jonas Valanciunas: Discussions are fluid between the veteran center and Denver, sources say, while he’s received a lucrative offer from Panathinaikos in Greece. I’m told, though, that any outcome here won’t impact the trade between Sacramento and Denver.
— Jake Fischer (@JakeLFischer) July 3, 2025
There’s almost nobody available in the free agent market that would be as impactful as Valanciunas, save for possibly Al Horford of the Boston Celtics. Could that be where Denver pivots next if they earn some savings back on a Valanciunas buyout? Perhaps.