Iverson 'to sign $76m deal' with Philadelphia

Allen Iverson and the Philadelphia 76ers have agreed a four-year contract extension worth $76.7m (€66.8m), according to reports.

The deal will keep the three-time NBA scoring champion in Philadelphia until the 2008-09 season.

A team source said the 76ers will announce the deal at a special event for season ticket-holders on Wednesday night at the Wachovia Centre.

Iverson has one year plus an option remaining on his current deal, which will pay him more than €24m over the next two years. The extension begins in 2005-06.

Iverson averaged 27.6 points last season, helping Philadelphia finish with 48 wins and 34 defeats and advance to the second round of the NBA play-offs.

He was the NBA's MVP in 2000-01, when he led the 76ers to the Eastern Conference championship for the first time since 1983.

In seven seasons, Iverson is averaging 27.0 points and 5.6 assists. This summer, he helped the US team qualify for next year's Olympics.

Iverson had a contentious relationship with former 76ers coach Larry Brown, who left to coach the Detroit Pistons after last season. Iverson now gets along well with new coach Randy Ayers, who was Brown's assistant.