The New York Knicks are defending NBA champions with a frontcourt need, and Jonas Valanciunas is a veteran center freshly cut loose by the Denver Nuggets. The timing, at least on paper, looks almost too convenient.
Denver waived the 34-year-old Lithuanian big man on Wednesday, cutting him loose just before his $10 million salary for the 2026-27 season became fully guaranteed. The Nuggets will still owe him $2 million after the move, but the decision saves the franchise enough cap space to stay under the second luxury tax apron — a line Denver was desperately trying not to cross. For Valanciunas, the release opens the door to a fresh start somewhere new. And according to multiple reports, the Knicks are paying close attention.
JUST IN: The Denver Nuggets are waiving center Jonas Valanciunas, league sources told @hoopshype. He had a fully guaranteed $10 million decision today. Denver will now owe Valanciunas $2 million for the 2026-27 season. He’s averaged 12.8 points and 9.0 rebounds in 14 NBA seasons. pic.twitter.com/5KdGxgQL6N
— Michael Scotto (@MikeAScotto) July 8, 2026
SNY’s Ian Begley reported Thursday that Valanciunas is “among centers on the Knicks’ radar,” adding that New York showed real interest in him during the 2024 offseason before he ultimately signed a multi-year deal with the New Orleans Pelicans. The history between the two sides is more than just casual. Knicks president of basketball operations Leon Rose represented Valanciunas during his years as an agent at CAA, a relationship that gives New York a built-in familiarity and a direct line of communication that most competing teams simply don’t have.
Valanciunas spent last season as Denver’s backup center behind Nikola Jokic, appearing in 65 games and averaging 8.7 points, 5.1 rebounds, and 1.2 assists in 13.4 minutes per game while shooting an efficient 58.2 percent from the floor. His role thinned out considerably toward the end of the year, and he barely saw the court during Denver’s first-round playoff loss to Minnesota, totaling just 25 minutes across four games. That kind of fade-out typically signals a parting of ways, and that’s exactly what happened.
For New York, the interest makes sense in context. The Knicks lost Mitchell Robinson to the Boston Celtics in free agency and have already signed Andre Drummond to a one-year veteran’s minimum deal as one answer to the depth question. But Drummond isn’t the end of the conversation. Begley reports that New York sees Valanciunas as a potential third center — a role player who could back up both Karl-Anthony Towns and Drummond across an 82-game season and the playoff run that the champions will be expected to make.
The complication, as always, is money. The Knicks are keeping a close eye on the second apron line and don’t have room to offer much beyond a veteran’s minimum deal. Valanciunas isn’t exactly short on options either. According to BasketNews, the Lithuanian club Zalgiris Kaunas has already put a two-year contract offer on the table, and ESPN’s Shams Charania reported that multiple NBA teams are expected to pursue him once he clears waivers. With the center market running thinner by the day, teams are paying a premium for proven interior players, and Valanciunas checks that box across 14 NBA seasons with career averages of 12.8 points and 9.0 rebounds.
So the picture is this: the Knicks want him, have a pre-existing relationship on their side, and can offer a championship roster and a shot at a ring. What they can’t offer is big money. Whether that’s enough to bring Valanciunas to Madison Square Garden instead of back to Lithuania — or to another NBA team willing to pay up — is the question that will play out over the next few weeks. For a team looking to go back-to-back, every frontcourt depth piece matters. And right now, Jonas Valanciunas is available.