Allen Iverson agreed in principle to a two-year, $4 million contract with Turkish team Besiktas on Thursday.

Iverson is expected to begin playing on November 8th.

Allen Iverson has agreed in principal to sign a two-year, $4 million contract with Besiktas of the Turkish professional league, according to a report by Yahoo! Sports.

The deal is expected to be filled with incentives.

Iverson plans to sign the deal this week and will report to Besiktas by Oct. 31.

The contract will give him an opt-out clause after this season.

Turkey's Besiktas Cola Turka is expecting a response from former NBA guard Allen Iverson on its conditions to sign a contract.

Sanem Helvacikoylu, the head of foreign relations for the team, said that Besiktas has conditions in the contract, including "penalties."

The Turkish media has reported that Iverson asked to be exempt from such penalties.

The deal could net Iverson as much as $2 million, Yahoo! Sports reported.

Allen Iverson is in serious talks with Besiktas of the Turkish league, according to the guard's business manager.

Yahoo! Sports has reported that Iverson would make $2 million under the one-year contract.

"We are in very serious negotiations with [Besiktas]," Iverson's manager Gary Moore said. "Istanbul is beautiful from everything we've learned. It's not that far from the U.S., and the competition is good, which makes it all attractive.

"Allen wants to play basketball."

Tony Gaffney, who was recently released by the Celtics, has signed a deal to play for Telekom of the Turkish League.

Gaffney was on the Celtics' roster for the 2009-10 season and is a native of Boston.