Dirk Nowitzki, Mavericks finalizing two-year, $10 million deal

Dirk Nowitzki and the Dallas Mavericks are finalizing a two-year, $10 million deal to keep the future first-ballot Hall of Famer in Dallas for a 20th consecutive season, a person with knowledge of the negotiations told USA TODAY Sports. The person spoke under the condition of anonymity because the terms of the agreement had not been announced publicly.

The second season of the contract will have a team option.

Nowitzki just completed the first season of his two-year, $50 million contract signed last July, but his production dipped as he dealt with injuries, and the Mavericks posted a 33-49 record — the franchise's worst mark since Nowitzki was a rookie. The Mavericks declined Nowitzki's contract option in late June, making him an unrestricted free agent on July 1.

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Restructuring Nowitzki's contract will give Dallas more flexibility to improve the roster this summer.

"It's an important summer for this franchise, for sure, to head back in the right direction, if you want to say, starting with the draft," Nowitzki told the Associated Press after the season. "And then free agency is important, too. So, yeah, this is a big summer, but we tend to stand here the last few years and always say it's a big summer for the franchise."

Nowitzki will join Kobe Bryant as the only players in NBA history to spend 20 seasons with one team.

ESPN first reported Nowitzki's contract negotiations. 

PHOTOS: Dirk Nowitzki through the years