Danilo Gallinari: Latest Contract News, Rumors, Speculation on Nuggets F

Forward Danilo Gallinari's contract expires at the conclusion of the 2015-16 season, but the Denver Nuggets are reportedly working toward keeping him in the fold for the foreseeable future.  

Continue for updates.

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Nuggets, Gallinari Reportedly Completing Extension

Tuesday, July 21

Adrian Wojnarowski of Yahoo Sports reported Gallinari is "finalizing" a two-year, $34 million extension with Denver. 

Christopher Dempsey of the Denver Post first reported the 26-year-old Italian was negotiating a new deal with the Nuggets earlier Tuesday, thanks in part to the money Denver saved by dealing point guard Ty Lawson to the Houston Rockets.

According to Wojnarowski, the extension will tack on an additional $2.5 million to the $11.5 million Gallinari was already set to earn this season. He'll have a $15.5 million salary in 2016-17 and a player option worth $16.1 million in 2017-18, Wojnarowski reported. The extension also includes a "full trade kicker."

Steve Bulpett of the Boston Herald recently reported that the Nuggets and the Boston Celtics had held trade discussions involving Gallinari, but Denver is reportedly ready to commit to the former No. 6 overall pick.

The past four seasons have been difficult on Gallinari in terms of injuries, as he has missed a total of 139 games, including the entire 2013-14 campaign with a torn ACL.

His 2014-15 numbers look modest on paper—12.4 points, 3.7 rebounds and 1.4 assists per game—but he averaged 18.6 points per contest after the All-Star break, compared to just 8.2 points in his first 35 contests.

Partly because of that, the sharpshooting forward is optimistic about 2015-16, per Dempsey: "I'm 26. I still have a lot to learn, a lot to improve. The sky is the limit. You'll always find me in the gym, working on my game. Looking forward to next season because I think I'm going to be better than the player I finished this season."

Kurt Helin of Pro Basketball Talk broke down what Gallinari brings to the table for Denver:

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He is a versatile scorer who also has some handles and can get a few boards. He had a PER of 16.4, a little above the league average. He would be someone coach Mike Malone could lean on to provide points on the court (something that may be a challenge for Denver at times).

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With Lawson now out of the picture, there will be an even greater scoring burden on Gallinari next season and beyond. He and forwards Kenneth Faried and Wilson Chandler are the top returning contributors in that regard.

Denver is moving into a new era with rookie point guard Emmanuel Mudiay likely serving as the team's centerpiece. If Gallinari is able to continue playing like he did late last season, he will be invaluable to the young floor general's development.

Follow @MikeChiari on Twitter.