Jonas Valanciunas has officially shut down rumors about a potential move to Europe, which confirmes that he will show up for the Denver Nuggets this NBA season.

The veteran big man had been linked with a surprise transfer to Greek superb club Panathinaikos, who reportedly offered a three-year, $13 million deal — one of the most lucrative offers in European basketball this summer. However, despite the appeal of playing closer to home, Valanciunas clarified that he is honoring his NBA contract.

“The idea of playing for Panathinaikos, closer to home, was very exciting to me, but that will have to wait,” Valanciunas told Donatas Urbonas of BasketNews.com. “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, who is under contract for $10.4 million this season with a non-guaranteed $10 million for 2026-27, joined the Nuggets earlier this summer via trade from the Sacramento Kings. Denver’s front office quickly made it clear that they had no intention of negotiating a buyout to free him for a European move.

Denver general manager Ben Tenzer confirmed that conversations with Valanciunas and his representatives were positive from the start. The organization viewed him as a crucial addition and the best backup center Nikola Jokić has had since joining the team.

Per FIBA regulations, Valanciunas would have needed a buyout agreement to leave the NBA and join another league, something Denver never entertained.

A Key Piece in Denver’s Championship Pursuit

The Nuggets’ decision to hold onto Valanciunas is strategic. One of the few consistent weaknesses during Denver’s recent playoff runs — including their 2023 NBA title campaign — has been the drop in performance when Nikola Jokić is off the floor.

Last season, the Nuggets had a -8.5 net rating during non-Jokić minutes. That number was even worse during their championship run at -9.9. With Valanciunas in the rotation, Denver hopes to finally stabilize their second unit and maintain pressure when Jokić rests.

Looking Ahead

While the Panathinaikos offer was real and tempting, especially considering Valanciunas’ European roots, his focus is now set on helping Denver compete at the highest level. The Nuggets are chasing another championship, and with Valanciunas in the mix, they have taken a significant step toward bolstering their frontcourt depth.

For now, the Denver faithful can rest easy — Jonas Valanciunas is staying in Mile High City.