The president of Italian club Virtus Bologna said the team has a verbal agreement with Kobe Bryant.
"We have reached an economic deal," Claudio Sabatini said in a radio interview. "There's still some things to arrange but at this point I'm very optimistic. I would say it's 95% done."
The Associated Press reports the deal to be $3 million for the first 40 days of the season.
UPDATE: AP reports the deal is threatened by scheduling issues. Apparently the Bologna team wants to change the schedule to have more early-season games played at its home arena, but other teams are balking at the switch.
Bryant, who grew up in Italy, would have a clause allowing him to return to the Lakers if the lockout ends.
Bryant, speaking on a radio station in Italy talked about the upcoming Olympics and explained his problems with "enemy" Shaquille O'Neal.
The two have been taking shots at each other since they won a third NBA title.
"I like players who workout. I use to do that 6-7 hours per day. I cannot stand players who practice for 30 minutes," Bryant was quoted via sportando.com. "I need to say something to them."
Kobe also confirmed he'll play in the 2012 Olympics and expects to see a familiar face challenging him.
"My friend Pau Gasol and his Spain will be the toughest opponents there," he said. "Playing Olympics is a great experience because you are playing for your country. There are big differences between winning the gold medal at Olympic Games and winning a ring with Lakers. London? I will surely be there."
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