The deal is worth $32 million, Haynes added.
Barton, 30, has been a key member of a Nuggets team that has been in contention in the Western Conference in each of the past two seasons.
He averaged 12.7 points, 4.0 rebounds, and 3.2 assists last season while shooting nearly 43 percent from the field. That included 38 percent on 3-pointers.
Along with that, Barton helps to run the offense and fill in for Jamal Murray at shooting guard. Barton missed most of the postseason with a hamstring issue, and his absence was definitely felt.