Nowitzki agrees $30mn deal with Mavs
Dirk Nowitzki of the Dallas Mavericks during a game against the San Antonio Spurs during the 2014 NBA Playoffs at American Airlines Center on May 2, 2014 in Dallas, Texas - by Ronald Martinez
The deal is thought to be worth some $30 million, ESPN said, and will maintain the no-trade clause that was in the previous contract Nowitzki signed in 2010.
Nowitzki has spent all 16 of his NBA seasons with the Mavericks, earning 12 All-Star appearances.
He was the NBA Most Valuable Player of the 2006-07 season and led the Mavericks to their first NBA title in 2011, when he was named MVP of the finals, in which Dallas defeated the Miami Heat.
Nowitzki recorded 21.7 points and 6.2 rebounds on average in 80 games last season before the Mavs were bounced in the first round of the playoffs by the eventual champion San Antonio Spurs.
For his career, the German forward has averaged 22.5 points and 8.1 rebounds, shooting 47.6 percent from the field and 87.9 percent from the free throw line in more than 1,188 games.
The deal can't be made official until July 10, when the NBA's moratorium on signings is lifted.