UPDATE 6:08 pm: The Kenneth Faried for Iman Shumpert talks are dead, at least according to Adrian Wojnarowski of Yahoo Sports, who tweeted this:

Denver has made it clear to Kenneth Faried’s reps: There are no active talks involving him. Knicks offered Shumpert. Denver rejected idea.

Of course, if you were trying to negotiate a better deal this would be your first response and what you would leak. Talks have a way or resurecting, so don’t assume this is the end.

That said, I would understand Denver cutting it off. Faried to New York, where they are in desperate need of front line help with Tyson Chandler out, always made sense. Shumpert to Denver less so — yes Shumpert can fill some of the Andre Iguodala hole but the Nuggets can likely do better, they will want picks and sweetners with Shumpert. And the Knicks don’t have any first round picks they can move until 2018.

Wojnarowski added this:

There's been significant interest NBA-wide in Faried, but short of including him into a blockbuster deal, it's unlikely Denver moves him. — Adrian Wojnarowski (@WojYahooNBA) November 13, 2013

3:18 pm: Denver’s new coach and front office like the polished offense J.J. Hickson brings and we told you before they were looking to shop Kenneth Faried this season.

Right now the Knicks desperately need help along the front line with Tyson Chandler out at least a month (likely more), and the Energizer Bunny that is Faried would be a good fit (and it works when Chandler returns as well).

So now two sides are having intensifying talks about a Faried for Shumpert trade, reports Frank Isola at the New York Daily News, but the price Denver wants is high — Iman Shumpert.

Talks between the Knicks and Nuggets centered around a deal that would send Iman Shumpert to Denver for forward Kenneth Faried have intensified in recent days, the Daily News has learned. According to a league source, no deal is imminent, although the struggling Knicks feel they need to make a move to bolster their banged-up frontcourt.

Those two have similar salaries and could be traded for each other straight up but Marc Stein of ESPN says the deal could stall because Denver wants more.

But sources told ESPN.com that multiple teams have approached the Knicks with interest in Shumpert and said New York remains undecided about whether to trade its coveted perimeter defensive specialist. Yet it’s believed that Denver is also seeking draft compensation in addition to Shumpert in exchange for Faried, who averaged 11.5 points and 9.2 rebounds in 2012-13 in his second season as a pro. That could prove to be too high a price for the Knicks, who would prefer not to part with Shumpert but understand that he is by far their most attractive current trade asset.

On the surface, this trade makes sense for both sides.

The Knicks need help along the front line and Faried provides that — however Knicks fans should be warned he is not a great on ball or strong side defender (he is good at coming from the weak side to get a block). Faried can get the Knicks offense just by outworking people. With Shumpert out J.R. Smith moves into the starting five and it will mean more minutes for Tim Hardaway Jr. and likely even Beno Udrih.

Denver misses the perimeter defense that Andre Iguodala brought last season and Shumpert helps fill that role. While Shumpert doesn’t really create his own shot he has an improved jumper (35.3 percent this season from three) and is strong in transition.

That said, Denver is currently without JaVale McGee (stress fracture) so you have to question if they should move a big right now. Also, Faried’s offense mainly comes from running the floor faster than the other bigs, but nobody else in New York is going to play at that pace (maybe Raymond Felton would like to a little more but that’s not a running team in Madison Square Garden).

Plus, Knicks fans love Shumpert and would hate this deal (although Faried would grow on them).

You can see how this deal could happen, but there are always a million things that can trip up a trade. We’ll keep you updated.