According to Stephen A. Smith’s Twitter account:

By now, everyone should know the 76ers officially offered Iverson a 1-year, non-guaranteed deal. It’s for approx. $1-mil. Barring any snags,

he’ll accept the deal on Wednesday. The non-guarantee doesn’t matter, because the contract becomes guaranteed the 2nd week in January.

Also, via CBSSports:

Based on the mood in Monday’s meeting between Iverson and the Sixers’ brass in Dallas, there were no indications that Iverson would turn down a non-guaranteed deal — only that he badly wanted to return to Philly and show his critics that he can still perform at a high level. Regardless of Iverson’s view of the past, future, and his own value, a non-guaranteed contract is the only way the Sixers can protect themselves against the strong possibility that Iverson once again would exert his outsized influence.

So there ya have it, folks. Allen Iverson back in Philly, swallowing his pride in order to prove to everyone he’s still got it.  Once upon a time, Allen Iverson with a chip on his shoulder was a devastating force of quickness, creativity, scrappiness, and heart.  Now, Iverson with a chip on his shoulder is two things: old, and played out.

Still, he will certainly help Philly as they try to survive the Lou Williams injury.  I don’t know about you guys, but any time an NBA team is starting Jrue Holiday and has a chance to sign a former MVP, 10-time All-Star and unquestionably one of the NBA’s 50 greatest players ever to a non-guaranteed contract for the veteran minimum, I say they have no choice but to do it.  I don’t care if he’s lost a step, or that he’s a locker room liability, or even that, at this point, he seems to be completely nuts.  From a purely basketball standpoint, Iverson will help the Sixers immensely.

Plus, he won’t exactly hurt ticket sales, will he?