Source: Sacramento Kings have signed Sasha Vezenkov. So why haven’t they announced it?

Word got out that the Kings had signed EuroLeague MVP Sasha Vezenkov on Thursday when his named showed up on the NBA’s transaction list, but there was no formal announcement from the team.

A league source explained the situation following Sacramento’s 93-80 victory over the Minnesota Timberwolves in a Las Vegas Summer League game at Cox Pavilion.

The source told The Sacramento Bee the Kings have signed Vezenkov and submitted his contract to the league office. However, per league rules, the contract is not binding until the team receives a letter of clearance. The Kings were expecting that to happen soon with an official announcement to follow once the deal is finalized.

The Kings and Vezenkov agreed to a three-year, $20 million contract on July 1. Sources told HoopsHype’s Michael Scotto the first two years of the deal are fully guaranteed with a team option for the 2025-26 season.

Four days after reaching an agreement with the Kings, Vezenkov was seen sitting courtside on the final day of the California Classic at Golden 1 Center. Vezenkov spent time with Kings owner Vivek Ranadivé, general manager Monte McNair, assistant general manager Wes Wilcox, coach Mike Brown and other members of the organization. The former Olympiacos star then accompanied the team to Las Vegas for the first few days of summer league.

Vezenkov, 27, is a 6-foot-9, 225-pound forward who averaged 17.6 points, 6.9 rebounds and 1.9 assists while leading Olympiacos to a Greek League title and the championship game at the EuroLeague Final Four. He shot 37.8% from 3-point range.

Vezenkov, a two-time Greek League MVP, recently left Las Vegas and returned to Bulgaria, where he talked to Victoria Petrova of EuroHoops about his decision to sign with Sacramento.

“They certainly show me that they are happy and believe in me,” Vezenkov said. “I can’t wait for the work to begin. I am currently training in Bulgaria. Last season was a winning season and the bar is high. Each new place has its own characteristics. I’ll be working as I have been and with any luck I think I’ll be fine. When you are in one place for five years, living in your comfort zone and everything is familiar to you, it makes you think. On the other hand, going to Olympiacos, I built my comfort zone with my work and the people around me. I want to work and settle there.”