In the long-standing saga surrounding Carmelo Anthony, the Nuggets may have "overplayed their hand" in negotiations with the Nets, according to one executive, and New Jersey's front office is now in the process of "substantively" re-evaluating its pursuit of Anthony.

The Nets have been chasing Anthony for months but according to sources, New Jersey has grown "sick of the whole charade" and have "backed away."

But the Nets have not yet completely pulled out of the hunt to acquire Anthony, who is reportedly reluctant to sign a contract extension in New Jersey.

The Nuggets are expected to opt for a young roster and to try to accumulate draft picks if the team does decide to move Anthony.