The Nets and Nuggets reportedly have reached a tentative agreement on a trade that would send Carmelo Anthony to New Jersey.
The deal is pending Anthony's agreement on a long-term contract extension with the Nets.
The trade would send Anthony, Chauncey Billups, Sheldon Williams, Melvin Ely and Renaldo Balkman to New Jersey, and Devin Harris, Derrick Favors, Troy Murphy, Ben Uzoh and four first-round draft picks to Denver.
Denver would then try to unload Murphy's contract on a third team, presumably using one or more of the picks received from New Jersey.
If Anthony turns down the Nets' overtures, the Knicks are expected to be the frontrunners to acquire Anthony before next week's trade deadline.
Reportedly both the Knicks and Nets will hold meetings with Anthony during All-Star Weekend in Los Angeles.
A later report in The Newark Star-Ledger seems to contradict The Bergen Record's report, citing a Nets official who states that no agreement has yet been reached between the Nets and Nuggets.