Carmelo has said he wanted to go to the Nets or Knicks. Now he only wants to go to the Knicks. Denver likes the Nets trade better and no one can agree.
The Knicks trade would basically send Carmelo and Billups to the Knicks and the Nuggets, Knicks and Timberwolves would trade pieces. There would be 10 players traded and Carmelo is happy and signs the 3 years, $65 million extension with the Knicks. Plus the Knicks would try to get a superstar free agent the next 2 years, such as Dwight Howard, Chris Paul and Deron Williams. To try to beat the Celtics, Heat and Bulls. The Knicks will get about 4 more wins, Nuggets 4 less wins and Timberwolves 2 less wins then estimated.Nothing that major.
The Nets trade would trade Carmelo and Billups to the Nets and the Pistions would send Richard Hamilton to the Nets. Murphy would go to the Pistons and the Nuggets would get Favors and Harris. Other pieces would be traded too. Carmelo would be as happy in New Jersey and might not sign the extension. 11 players would be traded in this trade. Nets might make the playoffs now but they won't be close to the top teams in the East. Nets would win about 10 more wins, Nuggets would lose about 12 more games and Pistons 2 more games estimated. Nets would still need help to be able to win the East.
I used the ESPN NBA Trade Machine. The links for these trades are below.