The Denver Nuggets and Kenneth Faried are working on a contract extension heading into the season and this comes after trade rumors popped up last year with Faried and now the team has worked out a deal and this comes as the NY Knicks have a decision to make regarding Iman Shumpert, as the October 31 deadline to get an extension done is getting closer.

According to Pro Basketball Talk, Faried said that the trade rumors that came up last season affected him at times and now he is hopeful that a deal gets done before the season. The website now reports that the two sides have agreed on a deal at five years and $60 million, but it hasn't been announced yet. The deadline for players at Faried's level is the end of October and if a deal doesn't get done, he will be a restricted free agent next summer. Faried has developed into one of the best front court players in the league and he showed that off at the FIBA World Cup, where he was called one of the top performers on the national team.

The news about the Faried deal was first reported by Yahoo Sports and the deal "includes a partial guarantee" and that means he will make "no less than $52 million" during the contract. Faried is one of the best young players in the league and he is coming back to a team that could play well with JaVale McGee and Danilo Gallinari coming back from injuries and Arron Afflalo coming in a trade. Faried showed his skills during the FIBA World Cup and he averaged over 13 points and eight rebounds per game last season.

The Knicks want to keep Shumpert, but right now the team has not worked on a contract with him heading into the deadline. The team wants to keep their options open in free agency over the next two summers salary cap wise and they likely will let him become a restricted free agent. Shumpert also likely will come up in trade rumors this season at some point. The Knicks want to target names like Marc Gasol and Rajon Rondo and to do that they may have to let Shumpert go.