Grizzlies backup point guard Nick Calathes denied a report Monday he had agreed to a three-year, $7 million deal to return to Panathinaikos, the Athens-based professional basketball team in Greece.
Calathes told The Commercial Appeal on Monday he hasn’t signed a three-year deal. The Memphis Grizzlies tendered Calathes a $1.1 million qualifying offer, which makes him a restricted free agent.
Last season with the Grizzlies, Calathes averaged 4.1 points, 1.8 rebounds and 2.1 assists. Reports surfaced Monday that an official announcement regarding Calathes’ return to Panathinaikos would be made Tuesday.
Should Calathes decide to sign a contract overseas, the Grizzlies will retain his NBA rights
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