After months of speculation, it appears Carmelo Anthony is finally headed out of Denver.

Al Iannazzone of the Bergen Record (N.J.) reports on his Twitter account that the New Jersey Nets and Denver Nuggets have reached a tentative agreement on a deal that would send the 26-year-old Anthony and a host of fellow Nuggets to New Jersey. In the deal, the Nets would send rookie Derrick Favors, former All-Star point guard Devin Harris, Troy Murphy and his $12 million expiring contract, point guard Ben Uzoh and four first-round draft picks in exchange for Anthony, point guard Chancey Billups, Melvin Ely, Ronaldo Balkman and Shelden Williams.

News of the deal comes on the heels of an ESPN report that Nets owner Mikhail Prokhorov, who had previously stated that New Jersey was no longer engaging in trade talks for the four-time All-Star, would meet face-to-face with Anthony in Los Angeles during the NBA All-Star weekend.