Philadelphia, PA (My Sportsbook) - The Philadelphia 76ers are on the verge of bringing back Allen Iverson.

According to a report in the Philadelphia Daily News which quotes an unnamed source close to the situation, the Sixers will offer Iverson a pro-rated $1.3 million for the remainder of the season -- but only if the faded superstar guard is willing to accept a contract which is non-guaranteed.

The paper also quotes the source as saying the club is awaiting a response from Iverson's agent.

Terms of the deal stipulate the full amount would be guaranteed if Iverson is on the roster by January 10. The Sixers will be on the hook for between $600,000 and 650,000 if a deal is guaranteed.

Representatives of the club met with Iverson on Monday regarding the guard's possible return to the team.

Sixers general manager Ed Stefanski posted a release on the team's Web site, saying the meeting lasted about two hours. At the meeting were Iverson, his agent Leon Rose and his personal manager Gary Moore, along with a host of Sixers personnel: Stefanski, senior vice president/assistant GM Tony DiLeo, head coach Eddie Jordan and assistant coach Aaron McKie.

However, Stefanski did not divulge in detail what was talked about and added that both parties remain non-committal regarding a final decision. He said the team will continue to discuss Iverson's potential return internally.

Iverson spent the first 10-plus seasons of his NBA career with the Sixers, after they selected him first overall in the 1996 NBA draft. He won the 1996-97 Rookie of the Year award and developed into one of the top scorers in the league while with Philadelphia.

He led the league in points per game four times with the Sixers, including during the 2000-01 season, when he posted 31.1 points and led the team to the NBA Finals before it lost to the Lakers.

But Philadelphia missed the playoffs in 2003-04 and 2005-06, and Iverson's relationship with the team became rocky, leading to his trade to Denver in December 2006.

The 10-time All-Star has bounced around the league since then, as he was moved from the Nuggets to the Pistons last season, then signed with Memphis this September.

However, he played only three games off the bench for the Grizzlies this season after missing time with an injury, and expressed his unhappiness with the situation. He was given a leave of absence from the team on November 7, and the sides agreed to terminate his one-year contract.