Thankfully the trade deadline is a mere 8 days away which means that the season long Melodrama will finally fade away (at least until the draft). Just to bring everyone up to speed, here's a quick recap of where things stand with each team involved.
Denver - Melo said he would take a long hard look at signing at the extension with the Nuggets if a deal cannot be reached by the trade deadline. They're still taking offers from all suitors and even made their own offer to the Knicks that was turned down by New York, most likely just as a negotiating ploy.
New York - Turned down an offer of Gallinari, Felton, Chandler/Fields, and a #1 pick (as reported here by the NY Daily News) for Melo and Chauncey Billups. Most likely this was just a negotiating play by the Knicks, although I don't think they want to bother with the Billups-Felton part of that trade. Clearly, the Nuggets are just trying to unload some extra salary, so this was a good move by the Knicks given the time still left on the clock to complete a deal. I suspect that if it comes down to this deal or no deal New York will make the deal, but they'll try and make the Nuggets blink first.
New Jersey - Pulled out of talks at the wishes of owner Mikhail Prokhorov. They remain a player in the trade because they still have the best assets available for a deal. Still though, Melo has given no indication he'd sign the extension with them.
LA Lakers - A Bynum for Melo deal was rumored but the Lakers quickly squashed it and then started there seven game road trip 4-0 before dropping the next two. If they continue to stumble maybe this becomes a reality once again but this seems like a big long shot for either side.
Mavs/Rockets - The Mavs may do a rental deal to try and finally win a title. The Rockets appear out of the mix because they'd want Melo to sign the extension with them, something he's given no intention of doing.
The negotiations and offers should really pick up steam over the next week and hopefully Melo will finally come home to New York and team up with Amare Stoudemire for a serious playoff run!
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