Aug 07, 2009 7:18 AM EST

The Hawks have reached an agreement with forward Marvin Williams on a five-year deal, according to a source.

Williams is expected to sign the deal, which is believed to be worth $37.5 million, as early as Friday.

The source told ESPN that the deal also includes incentives that could increase the contract's value to $43 million.

The agreement comes more than a week after reports that a deal was completed.

Via ESPN