Abrams' report:

Elton Brand has reached a verbal agreement to sign a multiyear contract with the Philadelphia 76ers, according to an NBA source who requested anonymity because he is not authorized to speak on player movements.

The deal is believed to be in the $80-million range and expected to span five years.

Brand opted out of the final season of his Clippers contract last week to become a free agent. He was due $16.4 million had he stayed in the contract.

The deal cannot be finalized until the league's moratorium period ends at midnight EDT on Tuesday.

The 76ers were the latest team to join the bidding frenzy for Brand, joining the Clippers and Golden State Warriors, who have already made five-year offers for Brand, according to the sources.

The 76ers cleared salary cap space Tuesday when they traded forwards Rodney Carney and Calvin Booth and a future No. 1 pick to the Minnesota Timberwolves in a deal that has yet to be officially announced but was first reported by Yahoo.com.

Brand has not been reached for comment since he opted out of the final season of his Clippers contract last week. He flew to Washington, D.C., to meet with Falk last week and had a medical checkup with Dr. Craig Morgan in Wilmington, Del., the sources said.

Brand missed all but eight games last season with the Clippers because of a ruptured Achilles tendon.

"If somebody asked me whether he'd be healthy or had any ongoing fears, I would say no," it's not a problem, Morgan said Tuesday.

When Brand opted out of the final year of his Clippers' contract, he said Philadelphia would be one of the desirable alternatives. The move would put him back on the East Coast, where he grew up and went to college, with a team that has a strong nucleus of young players.

The Clippers' verbal contract agreement with free-agent point guard Baron Davis is not expected to be altered by Brand's decision, according to the sources.

The Clippers initially offered Brand, 29, a five-year, $70-million contract, which was expected to be the highest they could go while still signing Davis, according to NBA sources who requested anonymity because they are not authorized to speak about player movements.

The Clippers then boosted their offer to Brand to five years and $80 million by renouncing the rights to other players, but it wasn't enough to re-sign him. The Warriors had tendered Brand a five-year, $90-million offer.

It's worth noting that, if the Times' report is accurate, both Philadelphia and the Clippers offered Brand identical deals of five years/$80M.  Brand will join a lineup that includes Andre Miller, Andre Iguodala, Thad Young, and Samuel Dalembert. 

Elton Brand's departure is a visceral kick in the stomach to a fan base that found, in Brand, the only true icon in franchise history.  More immediately, it places the Clippers behind only Golden State and Memphis in the Cap Space Sweepstakes.  The organization must quickly decide if it wants to pursue Corey Maggette, which would be a wrongheaded act of desperation, woo Josh Smith -- an intriguing, more youthful alternative at the PF, or stand pat for the 2009 free agent class. 

UPDATE: Stein has Maggette going to Oakland, and the Clips "making a hard run at Atlanta Hawks restricted free agent Josh Smith."  Stein also has the competing five-year contract offers for Elton at Philly $82M, Clippers $75M.