Despite receiving an offer from Greek Panathinaikos, the Denver Nuggets are set to proceed with their trade for Jonas Valančiūnas from the Sacramento Kings, per NBA insider Marc Stein.

The Nuggets aren't going to back out of their deal with the Kings for Jonas Valanciunas, and they reportedly won't free him from his NBA contract to play in Greece.

The Denver Nuggets and Jonas Valanciunas are about to be locked in a staredown. Denver agreed to a trade for Valanciunas, the veteran center, earlier this week. Then reports came out that Valanciunas had been offered a multi-year contract by Greek powerhouse Panathinaikos.