Kenneth Faried Agrees On A 4-Year $50M Extension With The Denver Nuggets

Kenneth Faried is staying with the Denver Nuggets for four more years after signing a $50 million contract extension with the team on Wednesday.

Various media outlets are reporting the deal including the official website of the National Basketball Association (NBA) team.

“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,” Tim Connelly,, the General Manager and Executive Vice President of Basketball Operations, said via a statement in the team’s website.. “We are truly looking forward to watching Kenneth continue to grow as a player and leader for the Denver Nuggets.”

Yahoo Sports’ Adrian Wojnarowski was one of the first who reported the value of the adjusted contract, which was initially at 5-years, $60 million.

“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,” Wojnarowski, a popular NBA insider, stated in his article.

Faried was excited with the prospect of playing more years in Denver.

“I’m ecstatic to be signing this deal. Words really can’t express it, I’m just all smiles right now,” The 24-year-old Faried said in the nuggets.com article. “I want to thank God for this opportunity and I’m excited to be a Nugget for the rest of my career.”

Faried also shared the news on Twitter.

All smiles #NUGGET4LIFE #THANKYOUNUGGETSNATION #UNLEASHTHEMANIMAL

— Kenneth Faried (@KennethFaried35) October 6, 2014

Faried is fresh off a stint with the United States basketball national team that won the gold medal in the 2014 FIBA Basketball World Cup in Spain. As a starter for Team USA, Faried averaged 12.4 points on 63.0 field goal percentage and 7.8 rebounds arguably the best big man in the line-up. In the NBA, he logged in 13.7 PPG (54.5 FG%) and 8.6 RPG for the 2013-2014 season, his third year in the league.