"The president of Turkey's Besiktas basketball team says he has a verbal agreement to sign a $2 million contract with former NBA most valuable player Allen Iverson.

"I'm going to New York on Friday," said Seref Yalcin, the president of the Besiktas basketball team. "I talked to Allan and his manager yesterday, Gary Moore. He said there's no problem; he's able to sign. Friday, I'll be there, and we'll probably sign Sunday. And Monday, I'll bring him with me."

Yalcin said he was offering the former NBA star $1.5 million in addition to a half-million dollar signing bonus for a two-year contract.

"This is a major advertisement for Turkish basketball. Besiktas' value as a brand has increased. Everyone is talking about this and Besiktas," Yalcin said.

The Besiktas president predicted that Iverson would take his team to the top of Turkey's Champions League."