Carmelo Anthony Trade To New Jersey Nets Reportedly Approved By Both Teams; Melo Still Must Agree

02/18/2011 01:54 pm ET | Updated May 25, 2011

According to reports on Friday, the Denver Nuggets and New Jersey Nets have tentatively agreed to a deal involving Carmelo Anthony. At this point, the only thing holding up the trade is Melo's willingness to sign a contract extension in New Jersey.

The Bergen Record cites multiple anonymous NBA sources in reporting that the two teams have both accepted to the terms of a trade that would send Anthony, Chauncey Billups, Sheldon Williams, Melvin Ely and Renaldo Balkman to New Jersey in exchange for Devin Harris, Derrick Favors, Troy Murphy, Ben Uzoh and four first-round picks.

The Nets, however, will only execute the trade if Anthony agrees to sign a long-term extension with the Nets, something he has not yet expressed willingness to do. Adrian Wojnarowski of Yahoo Sports reported on Thursday that Nets owner Mikhail Prokhorov has scheduled a meeting with Anthony in Los Angeles this All-Star weekend, presumably to sell the all-star forward on the idea of playing in New Jersey.

On Friday, Anthony told the AP that reports of a meeting between he and Nets leadership were "news to him."

In January, Prokhorov pulled the plug on a similar trade, telling the press that negotiations has worn on too long, and were taking a toll on the team.

The Nuggets and Nets have been in talks over Anthony on-and-off since the summer, when Anthony declined a 3-year, $65 million extension with Denver.

The Record also reported that the Nuggets would look to package Murphy and a draft pick in a deal with another team.