Adrian Wojnarowski has an update on the Iguodala situation at Yahoo! Sports, reporting that “the Golden State Warriors are in advanced discussions on a three-way, sign-and-trade scenario centered on delivering a trade exception and Utah Jazz free agent Randy Foye to the Denver Nuggets”:
In the deal, which could be finalized on Monday, Denver would sign-and-trade forward Andre Iguodala to Golden State for the four-year, $48 million contract he had agreed to sign with the Warriors. This would create a $12 million trade exception that the Nuggets would have a full year to use before it expires.
Utah would sign-and-trade Foye to Denver on a three-year, $9 million deal, with a team option on the third season, sources said.
This introduced a new dimension to a report from Marc Stein on Twitter just hours earlier:
The potentially good news is that whereas before it appeared Iguodala would walk without Denver getting anything in return, they could now use the TPE to trade for one or more players who will be a better fit for the roster, or as a salary equalizer in a multiple-player trade. Should this be the final result, then the Nuggets will not have lost Iguodala for nothing, and though his loss will still hurt the team, the blow will at least be softened.
Additionally, at $3 million per year, Foye could be a helpful, and reasonably priced addition to a team that has struggled with its 3-point shooting.
None of this, however, is finalized yet, and the situation appears to be in flux. So as always, stay tuned to Roundball Mining Company for all the latest and analysis of this crazy Nuggets offseason.
[UPDATE] – The original version of this post included content about the Nuggets potentially using the TPE to sign Monta Ellis. This was a mistake on my part as, according to cap guru Larry Coon’s FAQ, “The Traded Player exception… cannot be used to sign players.” I have edited the post to reflect this, and I’d like to extend my apologies for the error, and any confusion it may have caused. – Joel