This a deal that was rumored in November as well, but obviously never materialized.
But with the trade deadline on Feb. 20 and both teams looking to take full advantage of their present assets. Faried is signed through next season, and then will be a restricted free agent. Shumpert is in the same situation.
The Knicks are in desperate need of premier frontcourt depth, as they've been beat up badly, and quite frankly, don't have much talent. Faried would be precisely the kind of high energy player that could fit nicely alongside Tyson Chandler.
Shumpert is a solid wing defender that could slide into a bit of a poor man's Andre Iguodala role for the Nuggets, hitting 3s and checking the opposing team's best perimeter player.
Definitely a rumor to keep an eye on over the next week.