The Denver Nuggets have exercised the fourth-year option on F Renaldo Balkman’s contract, team Vice President of Basketball Operations Mark Warkentien announced today.

Balkman averaged 5.5 ppg (9-14 FG, .643), 3.3 rpg and 1.25 spg in four preseason games with Denver.

Balkman was acquired by trade from the New York Knicks on July 28 in exchange for G Taurean Green, F Bobby Jones and a 2010 second round draft choice.

In two seasons with New York, Balkman averaged 4.2 ppg and 3.8 rpg in 133 games. He was originally drafted by the Knicks with the 20th overall selection of the 2006 NBA Draft.

The Nuggets open the regular season at Utah tonight at 7:00 pm MT.