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Nuggets Renegotiate, Extend Danilo Gallinari’s Deal

AUGUST 3rd, 6:05pm: The Nuggets have confirmed the signing (Twitter link).

JULY 31ST, 3:00pm: Gallinari posted a photo to Instagram that appears to show him signing the renegotiation-and-extension paperwork. The Nuggets have yet to make a formal announcement.

2:06pm: The sides are finalizing an agreement that would add two years to Gallinari’s contract in a renegotiation and extension deal, reports Adrian Wojnarowski of Yahoo! Sports. He’ll see about $2.5MM more the $11.559MM that he was set to see on his contract this season, bringing his salary to about $14MM, with $15.5MM coming in 2016/17 and $16.1MM in 2017/18, Wojnarowski adds. That final year will be a player option, and the deal will include a full trade kicker, Wojnarowski also reports. That presumably means a 15% trade kicker, the maximum size for such a bonus.

JULY 21ST, 1:02pm: The Nuggets are expected to sign Danilo Gallinari to an extension this week, league sources tell Christopher Dempsey of The Denver Post. The forward confirmed to Italian media this week that he was in extension talks with the team, shortly after Dempsey reported that the Nuggets intended to begin such discussions.

Denver will use some of the cap flexibility it cleared in Monday’s Ty Lawson trade, according to Dempsey, a hint that Gallinari will receive an extension and renegotiation, which would up his salary of more than $11.559MM for this coming season, in the same sort of deal that Denver did with Wilson Chandler this month. Such a maneuver would allow Gallinari to make more in 2016/17 than the 7.5% of his 2015/16 salary he’d be limited to if he signed a conventional veteran extension, but renegotiations are rare, and Chandler’s deal was the first of its kind since the latest collective bargaining agreement went into place in 2011.

In any case, the Arn Tellem client would only be able to sign for three additional years, whereas he could ink a new contract with the Nuggets next summer that would give him five more years in Denver. The total amount of a conventional extension couldn’t exceed $39,879,326 over a three-year period, but a new contract that the sides could sign next summer would be allowed to be worth as much as the max.

The timing of Denver’s apparent movement with Gallinari is somewhat surprising, since it came on the heels of a report that the Celtics and Nuggets engaged in trade talks involving the veteran shooter. Denver was also apparently shopping Gallinari before the draft, when Memphis seemingly gave chase.

What do you think a fair extension for Gallinari would look like? Leave a comment to let us know.

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