Updates from Wednesday, Oct. 8
The Denver Nuggets have signed forward Kenneth Faried to a multiyear contract extension, General Manager and Executive Vice President of Basketball Operations Tim Connelly announced today.
“We value the energy and excitement that Kenneth brings night-in and night-out and we are thrilled to have reached an agreement on a contract extension,” said Connelly. “We are truly looking forward to watching Kenneth continue to grow as a player and leader for the Denver Nuggets.”
Faried commented on the big news: "I’m ecstatic to be signing this deal. Words really can’t express it, I’m just all smiles right now. I want to thank God for this opportunity and I’m excited to be a Nugget for the rest of my career.”
Updates from Tuesday, Oct. 7
Yahoo Sports' Adrian Wojnarowski has the latest on Faried's extension:
Denver Nuggets, Kenneth Faried have reworked extension agreement. Faried will sign a 4-year, $50 million deal, league sources tell Yahoo.— Adrian Wojnarowski (@WojYahooNBA) October 7, 2014
After consulting with NBA, Denver had to re-work 5-year deal to 4 years. This time, Faried gets $12.5M per, chance to be free agent at 28.— Adrian Wojnarowski (@WojYahooNBA) October 7, 2014
Wojnarowski offered further explanation for the new agreement:
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.
Updates from Monday, Oct. 6
Yahoo Sports' Adrian Wojnarowski reports Kenneth Faried and the Nuggets have agreed to terms on a five-year, $60 million contract extension:
Faried is part of the 2011 NBA draft class eligible for extensions until Oct. 31.
The deal includes a partial guarantee in the fifth year that assures Faried he will make no less than $52 million over the life of the contract, sources said.
Denver general manager Tim Connelly and Faried's agent, Thad Foucher of Wasserman Media Group, started to seriously exchange proposals in the past week and ultimately came to terms on a deal Sunday night, sources told Yahoo Sports.
Kenneth Faried has been a dominant force for Team USA at the FIBA World Cup thus far, but his long-term status with the Denver Nuggets is very much up in the air.
The relentless power forward is set to become a restricted free agent at the end of the 2014-15 season, but there is still time for him to hammer out a contract extension with the team that drafted him 22nd overall in 2011.
According to ESPN's Marc Stein, the deadline to get a deal done is Oct. 31:
Nuggets and Faried have until Halloween to finalize extension or Team USA's emerging energizer will become restricted free agent next summer— Marc Stein (@ESPNSteinLine) September 3, 2014
The 24-year-old star is coming off arguably the best season of his three-year career, as he averaged nearly 14 points and nine rebounds per game in 2013-14 while shooting just under 55 percent from the field. He was a key player for the Nuggets, and Stein believes he would like to remain in Denver:
Faried clearly wants to stay with Nuggets and is mounting quite a contract drive as negotiations continue on extension to keep him in Denver— Marc Stein (@ESPNSteinLine) September 3, 2014
With his contract situation looming last season, Faried was often the subject of trade rumors. Although he didn't seem to let the speculation bother him from a production standpoint, Faried admitted that it did have an impact on him, per Stein:
Speaking about last season in Denver last night, Team USAer Kenneth Faried said trade rumors "affect you when you want to stay somewhere"— Marc Stein (@ESPNSteinLine) September 3, 2014
While Faried provided immediate value to the Nuggets upon being drafted, he has shown signs of reaching that next level of play this summer with Team USA. Most expected Faried to be a role player under head coach Mike Krzyzewski, but he has been one of the driving forces behind the United States' success.
As pointed out by Chris Sheridan of SheridanHoops.com, it is almost as if Faried can't miss in Spain:
Kenneth Faried is shooting 81% at the World Cup. Bobby Gonzalez said he'd be Team USA's key player: http://t.co/FydfwCDaZR— Chris Sheridan (@sheridanhoops) September 3, 2014
International basketball is a far cry from the NBA, but there is no question that Faried is improving his profile and driving his value up in the process.
Despite that, not everyone is of the belief that Faried deserves to be paid like an elite player. Sean Pendergast of SportsRadio 610 is among those who feel Faried won't be able to live up to a monster contract:
It remains to be seen if the Nuggets feel the same way, but all signs point to them wanting to bring the hard-nosed forward back for next season and beyond.
At the end of the 2013-14 campaign, Nuggets general manager Tim Connelly had nothing but good things to say about the free-agent-to-be, according to Christopher Dempsey of The Denver Post.
Kenneth was great. I think there was an adjustment period with Kenneth and (head coach) Brian (Shaw). And for the last couple of months he was playing at as high a level as anybody. He's the heart and soul of our team. His consistent energy and toughness, I was really happy to see. I think he grew this year. I think he really improved on both ends, not just the offensive end. He's a guy that's going to play a huge role in our success moving forward.
I'm hopeful that we'll have good discussions this summer with his representation and we'll see if we can't figure something out.
Nothing has come of those negotiations yet, but expect something to happen for Faried to remain in Denver. It can be argued that his statistical production will never reach top-flight levels, but he contributes to the team in so many ways intangibly that it is tough to measure his true worth.
Should the Nuggets dish out big money to keep Faried?
With that said, Faried is playing better than ever for Team USA, and he has shown plenty of growth since entering the NBA. That means the best may be yet to come in terms of his scoring and rebounding contributions.
Faried may want to stay in Denver, but he should also do everything he can to get fair value. If the Nuggets truly view him as an integral part of the organization's future, then they'll find a way to get something done in the next two months.
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