WEDNESDAY, 7:27am: The deal is official, the team announced. CSKA’s statement indicates that the contract includes an option for a third season, but it’s unclear whether that’s a team or a player option.
MONDAY, 1:23pm: Wojnarowski’s full story indicates that De Colo turned down a two-year offer from Toronto, though just how much money was a part of it remains unknown.
12:54pm: Guard Nando De Colo has turned down an offer from the Raptors and will sign with Russia’s CSKA Moscow, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). De Colo was reportedly offered a two-year deal for the equivalent of $4.08MM, according to Sportando’s Emiliano Carchia (Twitter link).
De Colo is a restricted free agent, giving the Raptors the opportunity to match offers from other NBA teams, but the international market isn’t bound by that. The Raptors, who agreed to trade Steve Novak to the Jazz last week to free up room beneath the luxury tax line, are trying to secure a deal with Greivis Vasquez, and there was a strong chance they wouldn’t have been able to give De Colo what the Russian team apparently offered.