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Carmelo Anthony (Unsurprisingly) Will Not Sign Extension With Nets, According To Report

It's NBA All-Star Weekend and Carmelo Anthony is still a member of the Denver Nuggets. According to a new report, Carmelo Anthony will not sign a three-year, $65 million extension with the New Jersey Nets in order to complete a trade. This has been a prerequisite for a trade, and it has almost been a given that "Melo would not sign such an extension. He wants to play for the New York Knicks, which still remains a possibility.

Had the Nets and Nuggets agreed on a trade, Carmelo Anthony, Chauncey Billups, Melvin Ely and Renaldo Balkman would have headed east. Coming out to the mountains would have been Derrick Favors, Devin Harris, Troy Murphy's expiring contract, Ben Uzoh and four first-round draft picks.

With the Nets now supposedly out of the chase, the Knicks remain the favorite to land the star. The parameters of a trade have been breached, which include Danilo Gallinari, Raymond Felton, a first-round pick and other pieces. However, Gallinari could be replaced with Landry Fields, as the Nuggets have to choose him or Gallinari as the main piece of the deal. The Nuggets can continue to ask for more from the Knicks because they appear to be the only team left in the bidding. However, the Knicks can also back down and wait for Carmelo Anthony to become a free agent.

The NBA Trade Deadline is Thursday, Feb. 24, at 1:00 p.m. MT