The Denver Nuggets have reportedly come to terms with forward Danilo Gallinari on a two-year, $34 million extension.

This “restructuring” is said to include a $2.5 million pay bump on Gallo’s current deal—he’s owed $11.5 million heading into the final year of his contract.

Gallinari, 26, is coming off a season with averages of 12.4 points and 3.7 rebounds in 59 games.

Per Yahoo! Sports:

Under the newly negotiated terms, Gallinari will make $14 million this season, the first of a deal that runs through the 2017-18 season, sources said. He will make $15.5 million in 2016-17 and has a player option worth $16.1 million for the third year of the deal and a full trade kicker, sources said.

 

Gallinari is eligible for the extension because he’s signing a four-year-plus deal after three years from the date of his previous extension. The Nuggets have the requisite salary-cap space to redo Gallinari’s deal too, a benefit of trading guard Ty Lawson to Houston on Sunday night. […] Under the same provision in the NBA’s collective bargaining agreement, Denver extended Wilson Chandler on a four-year, $46 million deal last week.

 

Across six NBA seasons – and an interruption because of a torn ACL in 2013 – Gallinari has averaged 14.2 points and 36.7 percent on 3-pointers.