Oct 16, 2008 12:45 PM EST

The Nuggets are expected to wait until just before the Oct. 31 deadline before announcing whether they will pick up next season's $2.11 million option on the contract of Renaldo Balkman.

"I talked to the Nuggets, and they said it's their policy to make their decision or announce it just before Oct. 31," said Balkman's agent Andre Buck.

Balkman would become an unrestricted free agent next summer if his option is declined.

Via Rocky Mountain News