Frank Isola of the NY Daily News reports that Knicks owner James Dolan has taken over negotiations with the Nuggets for Carmelo Anthony.

Carmelo Anthony’s future is now in James Dolan’s hands.

Dolan, the chairman of Madison Square Garden, could decide as early as Saturday whether to agree to a blockbuster deal with the Denver Nuggets or risk losing the All-Star forward to the Nets.

Isola’s piece isn’t specific about the parameters of the trade because it doesn’t sound like the Knicks have decided who they are (and aren’t) willing to give up.

Dolan apparently included Danilo Gallinari in the latest version of the trade, but Ray Felton, Landry Fields, Wilson Chandler, Timofey Mosgov and Anthony Randolph have also been mentioned in these trade talks.

GM Donnie Walsh and Mike D’Antoni are apparently against doing the trade, so if Dolan does pull it off, look for the Knicks to give up Gallinari and Felton, along with two or three of Fields, Chandler, Mosgov and Randolph. If Felton is included, the Knicks would likely get Chauncey Billups in return.

The Nuggets feel like they have some leverage since they have agreed in principle to a trade with the Nets, but if Anthony isn’t willing to sign the extension with New Jersey, it won’t matter. He’s reportedly irritated that the Knicks haven’t done more to get the trade done, and that irritation could lead to a sudden willingness to play with the Nets if he’s faced with playing for the Nuggets the rest of the year.