Danilo Gallinari agrees to two-year, $34M extension

Denver Nuggets forward Danilo Gallinari is finalizing an agreement on a two-year extension worth an additional $34 million on his contract, according to league sources.

The deal is a restructuring that includes a $2.5 million increase on the $11.5 million owed to Gallinari as he enters the final year of his contract in 2015-16, sources said.

Gallinari has a player option worth $16.1 million for the third year of the deal.