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King planned to talk to the players on Thursday about moving forward, saying the situation took a toll on the team.

The proposed deal had New Jersey sending point guard Devin Harris, rookie power forward Derrick Favors, the third draft pick overall, guards Anthony Morrow, Quinton Ross and Ben Uzoh, swingman Stephen Graham and at least two first-round draft picks to Denver.

Besides Anthony and Billups, the Nuggets would’ve sent Shelden Williams and Terrico White, who is injured, to the Nets. The Pistons would’ve received veteran Troy Murphy and center Johan Petro for Hamilton. Murphy has a $12 million contract that will expire after this season.

King said Murphy has asked to be traded and will be allowed to stay home until a deal is finalized.

King called the seemingly never-ending talks on a Melo deal a perfect storm, with the Nuggets and Nets both dealing with new ownerships and managements.

“There is no blame for anyone,” he said. “We all worked hard to get a deal done, we just couldn’t get one.”

King added Nets will now move on.

“This is not like the Titanic, this happens and the ship sinks,” King said, adding the Nets‘ have five first-rounds picks in the next two years and plenty of cap space.


AP Sports Writer Arnie Stapleton contributed from Denver.