1. If Carmelo really thinks he's going to win a championship with a starting 5 consisting of:
He's dead wrong.
Humphries sucks, and the two guards are over 30 years old. Billups is still OK but Rip Hamilton is worse than Landry Fields at this point.
2. If he's dumb enough to sign the extension and go play in Newark for a year and then endure 3 more years of mediocrity instead of waiting to the trade deadline, then that'd be hilarious.
3. Imagine if NJ pulls the trigger on the trade even though they don't get a guarantee from Melo that he'll extend. Then NJ loses him to free agency and they also lose Favors+first rounders + etc.
Scenario #3 is awesome