But with the Anthony move completed, the Nuggets moved quickly to lock up Karl, who has led Denver to the playoffs each of his six seasons in charge and in December became just the seventh NBA coach to record 1,000 regular season wins.
"I've always said Denver is the place I want to end my career," Karl said on the official NBA website (www.nba.com). "This puts me one step closer to achieving that goal.
"The Kroenkes (the Nuggets owners) have been great throughout this entire process. They've been very supportive of me as a coach and during my battle with cancer.
"I'm excited for the remainder of the season and look forward to making another playoff run."
(Writing by Steve Keating in Toronto, Editing by Greg Stutchbury)