Multiple sources confirmed reports as "reasonably accurate" of an agreement in principle for six seasons and $80 million, including an additional $5 million in incentive clauses and an opt-out clause after the fifth season.
The deal between Rob Pelinka, Iguodala's agent, and Sixers president/general manager Eddie Stefanski was agreed to yesterday, sources said, after Pelinka and Stefanski met earlier in the week in Los Angeles. Stefanski ostensibly was in Los Angeles, where Pelinka is based, on vacation. Stefanski attended the Phillies' game at Dodger Stadium on Tuesday night.
The contract is expected to be signed early next week. Pelinka, reached at his office yesterday afternoon, declined to comment. Stefanski, reached via cell phone last night, also declined to comment.
Assuming that the numbers are indeed "reasonably accurate" for Iguodala's deal, a veteran league executive termed it "unbelievable, a good deal for the Sixers . . . if they win."
Amazingly, Iguodala's new deal - for which the Sixers probably overpaid a little to ensure keeping their nucleus intact and because of their belief in the player's upside - is for significantly more than Allen Iverson, the previous A.I., got in his first extension with the Sixers. That one was worth $70 million.
Keith Glass, the agent for Ivey and a veteran of representing players, laughed and said, "Luckily, there are incentive clauses. I guess $80 million wasn't enough. Thank goodness, there are incentives."
More seriously, Glass said: "In times like these it all sounds like monopoly money, but this is the market. It's not out of line from either side. This is a case where both sides won. You can't say Iguodala lost, and the Sixers know what they're doing. Ed Stefanski has done a pretty good job of turning this around. He's a very straight shooter. The Sixers know what Iguodala meant to the franchise."
Asked to assess the situation, a veteran scout said, "I'm a little shocked, but this is a lot of money. But Iguodala made out by gambling. I didn't think he'd get that much. He's a good player and he'd be in the rotation of all the teams, but there are teams he wouldn't start for. To me, it's a lot for a guy who hasn't been an All-Star, who hasn't been out of the first round of the playoffs."
Another agent, who asked not to be identified, said: "I'm speechless. I don't know how to respond. That's amazing."