05/31/2001 AT 01:00 AM EDT
The Downey deal is done. Actor Robert Downey Jr., 36, who faced a potential long prison term for a Thanksgiving drug arrest, will plead no contest to two drug charges and enter rehabilitation for up to a year in a deal with prosecutors, attorney Michael Adelson said on Wednesday. PEOPLE.com exclusively reported on Tuesday that a deal was in the works. Downey is expected to formally enter his no contest plea to one felony count of cocaine possession and a misdemeanor drug charge at a court hearing on July 16. Anderson is part of Downey's new legal team. The actor dismissed his former legal team. The new lawyers, the old lawyers and Downey's publicist have declined comment on the switch. In a brief statement, one of Downey's former lawyers, Daniel Brookman, said: "Our objective was to get Mr. Downey in rehabilitation rather than jail. After six months of legal endeavors, we achieved our goal in obtaining a plan calling for rehabilitation rather than incarceration."