Jonas Valanciunas wants to leave the NBA—and the Denver Nuggets—primarily because of a longer guaranteed deal from Panathinaikos Athens, his desire to play a major role on a title-contending team, frustration with playing for NBA teams without a winning culture, and personal reasons.
Thursday night, Jonas Valanciunas stunned the Denver Nuggets and NBA fan base after BasketNews reported that the Lithuanian is considering a return to Europe.
On Tuesday, Shams Charania reported that Valanciunas was traded to the Denver Nuggets for Dario Saric, and it seemed that the 33-year-old will finally have a shot at competing for the NBA title as Nikola Jokic's backup.
The Nuggets fan base was also happy with the acquisition, and Valanciunas himself was initially pleased with the outcome
So, what changed?
Main reasons why Jonas Valanciunas wants to leave the NBA
The Panathinaikos offer was the real game-changer. Money aside, it gave Valanciunas long-term stability, a major role, and the opportunity to play for a team that will compete for multiple titles on the European and domestic levels.
Valanciunas has been a serial winner since the very beginning of his career. He led Lithuania to gold medals at the youth level in EuroBasket U16, EuroBasket U18, and the World Cup U19.
After transitioning to the senior level, he also won two silver medals with Lithuania in EuroBasket 2013 and EuroBasket 2015. However, these are his last titles since then.
Jonas Valanciunas
Jonas Valanciunas
Credit Erikas Ovčarenko/BNS
Therefore, playing for the tanking Washington Wizards or a borderline playoff team like the Sacramento Kings in the stacked Western Conference was far from perfect for JV.
A return to Europe and signing with Panathinaikos would give Valanciunas a guaranteed shot at trophies once again.
And before you say that the Denver Nuggets are legit NBA contenders (which they are), let's talk money.
Panathinaikos offer vs. Denver Nuggets contract
Valanciunas' current NBA contract was only guaranteed through the 2025–26 season, during which the Denver Nuggets would pay him $10.4 million gross.
The deal also includes a team option for 2026–27 worth $10 million, which the Nuggets can choose to exercise or decline next summer.
However, the US and NBA system has plenty of taxes that include:
Federal Income Tax
Colorado State Tax
Jock Tax
NBA Escrow Withholding
Agent Fees
Others
All in all, after taxes, Valanciunas would pocket from $4.2 to $5 million from his guaranteed NBA deal for the 2025-26 season.
Meanwhile, Panathinaikos would pay Valanciunas €12 million (around $13 million) for 3 years.
Most importantly, this figure is after all the taxes being deducted, essentially making JV's yearly salary almost the same, if not slightly better, compared to his NBA deal.
Finally, it's not just about the role or the money. There are personal reasons behind Valanciunas' desire to return to Europe—reasons only he can address.
Panathinaikos isn't a usual European team
For even more context, it's important to note that Panathinaikos isn't your usual European team.
PAO currently have six former NBA players:
Kendrick Nunn
Jerian Grant
Cedi Osman
Juancho Hernangomez
Omer Yurtseven
Lorenzo Brown
Mathias Lessort was also on the NBA teams radar last summer before signing a long-term extension, reportedly worth €7 million.
This April, Nunn also signed a 3-year, €13.5 million (approx. $14.8M) contract extension with Panathinaikos, becoming the highest-paid player in Europe.
Last season, the Greek powerhouse had the second-largest budget in the EuroLeague, totaling €37 million, with €20.5 million spent on player and coach salaries—tied for first in the league.
Panathinaikos are also known for their passionate fan base, which creates an electric atmosphere at every home game.
On top of that, Athens is simply a great place to live – it's one of the sunniest cities in Europe, with around 270 to 300 sunny days per year.
Returning to Lithuania wouldn’t be a problem for Valanciunas either, as it’s only a three-hour direct flight from Greece to the Lithuanian capital.
Donatas Urbonas
Donatas Urbonas is an award-winning Lithuanian basketball journalist, recognized as the best sports journalist in Lithuania in 2016 and the top basketball journalist in 2018. A Vilnius University journalism graduate, Urbonas has reported on major global sports events, including the Rio 2016 and Paris 2024 Olympics, FIBA World Cups, EuroBaskets, NBA Summer League, and NBA Draft.
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Edvinas Jablonskis
Edvinas Jablonskis began his basketball coverage career in 2017. Starting as a Daily Writer for BasketNews.lt, he steadily climbed the ranks and became a Daily Editor for BasketNews.com in 2021, a position he continues to hold. Over the years, Jablonskis has covered multiple EuroLeague Final Fours and international tournaments, including the FIBA EuroBasket, FIBA Basketball World Cup, and FIBA Olympic Qualifying Tournament.
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