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As New Trade Details and 'Melo-Prokhorov Meeting Plan Emerge, Extension Is Nets' Trump Card

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Marc Stein reports that "although details of a formally scheduled meeting have yet to emerge", the Nuggets believe Carmelo Anthony and Mikhail Prokhorov will finally meet face-to-face during All-Star Weekend. Stein quotes "sources close to the process."

Adrian Wojnarowski tweets that the Nets and Nuggets have the framework of a deal in place, but that Anthony would need to be convinced to sign an extension with New Jersey. In the proposed deal, the Nets would send Derrick Favors, Devin Harris, Troy Murphy, Ben Uzoh and four first round picks to Denver for Anthony, Chauncey Billups, Renaldo Balkman, Melvin Ely and Shelden Williams. The four picks being offered are the Nets' 2011 pick; the Lakers' 2011 pick; the Warriors' 2012 pick; and the Rockets' 2012 pick.

With the deal in place, Melo would face a big dilemma, either sign a $65 million extension (beginning in 2012-13) with the Nets or wait until July and hope for the best.  But two writers suggest doing that would be a big risk.

Arne Stapleton of AP and Larry Coons of ESPN report 'Melo could be risking tens of millions of dollars of future earning power if he decides to pass on the extension.  Stapleton estimates that he could risk as much as $40 million...half of what he would receive over the next four years if he signs the extension.

For his part, Anthony has vowed he will sign an extension this season (he has until June 30) and that unless he does, he could be "screwed" by the new collective bargaining agreement. He's also said it's not about the money.