12:11pm: Panathinaikos has officially announced its one-year deal with Osman.
9:23am: Former Cavaliers and Spurs wing Cedi Osman is leaving the NBA to sign with Greek club Panathinaikos, as detailed in a report from Eurohoops.net.
Earlier reports from this month suggested Osman was in advanced talks with Spanish club Real Madrid, but the two sides were ultimately unable to get a deal done. Eurohoops.net also says Osman had an offer on the table from the Lakers to join the team for training camp, but he turned it down without having assurances he’d make the regular season roster.
Osman was just one of three players left on the Hoops Rumors’ top 50 available free agents list this offseason, having been ranked at No. 46. Only Isaac Okoro (No. 26) and Markelle Fultz (No. 43) remain without teams from that list.
The former Cavaliers wing is a seven-year pro who spent his first six seasons in Cleveland. He was sent to the Spurs last offseason in the sign-and-trade deal that re-routed Max Strus from the Heat to the Cavs. In 476 games (186 starts), Osman holds averages of 9.3 points and 3.0 rebounds per game on 35.7% shooting from deep.
Although his per-minute production was his lowest since his rookie year last season in San Antonio, Osman set a career high with a .389 3PT% and offers value as a sharpshooting veteran wing. However, with roster spots dried up around the league, he’s making the move overseas.
According to a separate report from Sportando, the deal between Osman and Panathinaikos happened quickly. Reportedly, the deciding factor was a conversation between the forward and Panathinaikos head coach Ergin Ataman, who also coaches Osman on the Turkish national team.