New Contract Revealed Following Raptors ..

The briefly tenured Toronto Raptors forward has reportedly inked a five-year deal worth €18.5 million with Olympiacos for next season. The deal will pay Vezenkov €3.7 million to return to Greece, per SDNA.

Vezenkov had been set to make $6.7 million (USD) with the Raptors for next season but opted to return all his guaranteed salary in a buyout to return to Europe. While that number is larger than Vezenkov’s new European salary, it does not account for taxes on his NBA deal.

After taxes, Vezenkov would have earned roughly $3.6 million (USD) on his NBA contract, per BasketNews. European contracts, conversely, are reported after taxes and Vezenkov will earn approximately $4 million (USD) with Olympiacos.

The deal will make Vezenkov one of the highest paid players in European basketball next year.

The 28-year-old sharpshooter spent one season in the NBA with the Sacramento Kings last year before heading back to Europe. He averaged 5.4 points and 2.3 rebounds per game while shooting 37.5% from three-point range.

Toronto acquired Vezenkov in a salary-saving maneuver by the Kings who were looking to create space to eventually add DeMar DeRozan.

The Raptors sent Jalen McDaniels to Sacramento for Davion Mitchell, Vezenkov, the draft rights to second-round pick Jamal Shead, and a 2025 second-round pick from Portland.

Vezenkov is a former EuroLeague MVP award winner and two-time Greek League champion.

He was drafted by the Brooklyn Nets with the 57th pick in the 2017 NBA draft and inked a three-year, $20 million contract to join the Kings in 2023.