Wednesday , Dec , 14 , 2011 Hoopsvibe

Nene turns down Heat, Nets; signs $70 million extension with Nuggets

The Nuggets and Nene have reached agreement on a five-year contract that will pay him up to $67 million.

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HoopsVibe’s Very Quick Call: In the end, it was about the money.

Free agent post Nene won’t join a capped-out contender and will instead earn nearly $70 million over the next five years to stay with the Denver Nuggets.

On the one hand, this makes sense. This was Nene’s moment, his one opportunity to capitalize on a weak free agent market and get max-like money even if the league was coming off a lockout.

Only Denver and the New Jersey Nets were willing to meet his demands. And the Nets are in flux because Deron Williams still hasn’t inked an extension.

So Nene, who loves Denver, decided to spend his prime with the Nuggets.

On the other hand, this is surprising. The 30-year old decided against giving the Miami Heat and other elite squads a discount for the chance at a championship.

Of course, it’s hard to say just how much of a South Beach sale the Heat were asking for. And Nene could sign a short-term deal with a contender once this deal expires in June of 2016. 

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