Former Kings player Sasha Vezenkov giving up millions in NBA money to return to Europe

Former EuroLeague MVP Sasha Vezenkov is giving up several million dollars in guaranteed NBA money to return to Europe after one season with the Sacramento Kings.

The Toronto Raptors waived Vezenkov on Monday, less than a month after the Kings traded him in the deal that brought Jalen McDaniels to Sacramento. Vezenkov reportedly agreed to give up the $6.65 million he was owed in 2024-25 to facilitate a buyout in Toronto.

BasketNews.com reported Vezenkov has already agreed to a five-year deal to return to Olympiacos, where he spent five years before signing with the Kings. Vezenkov was named EuroLeague MVP in 2023 after leading Olympiacos to a Greek League championship and the EuroLeague finals.

On June 28, the Kings traded Vezenkov, Davion Mitchell, the draft rights to Jamal Shead and a 2025 second-round draft pick to the Raptors in exchange for McDaniels, a little-used backup who might not crack Sacramento’s rotation. The trade was viewed as a cost-cutting move for the Kings, who cleared salary cap space to get under the luxury tax threshold before pulling off a sign-and-trade deal for DeMar DeRozan.

Vezenkov’s future with the Kings was already in question amid reports that he was seeking a way out of Sacramento following a disappointing rookie season. Vezenkov averaged 5.4 points and 2.3 rebounds in 12.2 minutes per game, shooting 44% from the field and 37.5% from 3-point range. He floated in and out of coach Mike Brown’s rotation and appeared in only 42 games, due in part to left and right ankle sprains that caused him to miss nine weeks over the second half of the season.

“Overall, it was ... a weird season,” Vezenkov said after the Kings were eliminated from the play-in tournament. “Ups and downs, new game, new life, a couple of injuries. I tried to adjust as fast as possible.

“... It was, as I said, a new experience, and I wanted every day to become better. Unfortunately, those two injuries, I think they held me back, but the whole situation was a little bit difficult and different.”

The Kings acquired the draft rights to Vezenkov in a 2022 trade with the Cleveland Cavaliers, but the two sides couldn’t agree to a deal prior to the 2022-23 season. He finally came to the NBA after signing a three-year, $20 million contract with the Kings in July 2023.

Vezenkov, a two-time Greek League MVP, averaged 17.6 points, 6.9 rebounds and 1.9 assists for Olympiacos in 2022-23. He shot 37.8% from 3-point range on 5.2 attempts per game while establishing himself as one of the biggest stars in the European game.