Sources: Nuggets rework contract extension with Kenneth Faried
The Denver Nuggets and forward Kenneth Faried have reworked a contract extension agreement, finalizing a four-year, $50 million-plus deal on Tuesday, league sources told Yahoo Sports.
The extension could be worth nearly $52 million with incentive clauses in the contract, sources said.
For the Nuggets and Faried, the paring down of an original five-year, $60 million pact on Sunday night ultimately satisfied the desires of the franchise and its burgeoning young talent.
After a closer examination of collective bargaining agreement fine print with the NBA on Monday morning, the fact that five-year deals on rookie extensions are only allowable for maximum contracts ultimately moved the sides toward reconstructing the extension.
Nevertheless, the sides found common ground on a $12.5 million annual deal that keeps Faried out of the restricted free-agent market in July 2015 when the possibility of Faried signing a richer offer sheet could've been painful for Denver to match.
Faried, 24, can become a free agent again at 29 years old and move quicker into potential free agency in a market flushed with an influx of $24 billion in television money and ballooning salary-cap space.
Faried is part of the 2011 NBA draft class eligible for extensions until Oct. 31.
Faried has developed into one of the NBA's most relentless talents, a fierce rebounder and defender who has excelled offensively for the Nuggets when the game is speeded up. Faried played an integral part of USA Basketball's gold-medal-winning team in the 2014 World Cup of Basketball in Spain.
Faried averaged 13.7 points and 8.6 rebounds last season.
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