By Michalis Stefanou / info@eurohoops.net
The Toronto Raptors announced that they waived forward Sasha Vezenkov. The former EuroLeague MVP has an agreement in principle to return to Olympiacos Piraeus with a multiyear deal.
Vezenkov and Olympiacos had struck a deal in early July. The only question on whether the Bulgarian player would return to the Reds was due to his existing contract with the Raptors after the latter acquired him from the Sacramento Kings via trade.
Now the road is clear for Vezenkov to sign with Olympiacos and return to the EuroLeague. In his last season in the competition in 2022-23, he was named the EuroLeague MVP, putting up 17.6 points, 6.8 rebounds and 1.9 assists.
Vezenkov then signed a three-year deal with the Kings to play in the NBA for the first time in his career. He didn’t get the playing time and role he wanted with the team and he got traded to the Raptors late in June.
Per Sportac, Vezenkov gave up his entire $6.6M salary to be waived, giving the Raptors the incentive to cut him.
On the other hand, a record deal is expecting him in Europe which will make him one of the best-paid players in European basketball history.