Calathes Signs With Panathinaikos
Old 05-24-2009, 09:24 AM   #1 (permalink)
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Default Calathes Signs With Panathinaikos

University of Florida guard Nick Calathes has decided not to return to UF next season, but instead take his game overseas.

The Orlando Sentinel has learned Calathes signed with Panathinaikos of the EuroLeague on Friday.

Neither Calathes nor his family would comment on the development, pending announcements from Panathinaikos and UF. Gators coach Billy Donovan apparently was informed of his player's decision Friday night, with at least one source saying a contract was signed.

The deal, sources said, will pay Calathes around $1.1 million per year, in addition to providing him with a home, car and tax credits, making for a total package commensurate to what the NBA rookie salary scale provides a late-lottery selection.

The deal also reportedly has a buyout option should Calathes remain in the upcoming NBA Draft and decide to join that team down the road.
He has dual citizenship U.S./Greek and he played with the Greek junior national team at the 2008 FIBA Europe Under-20 Championship.
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