The first-year salary of $1.67M is fully guaranteed, Marks adds. Cleveland’s interest in Pangos was reported last month and he chose to make the move to the NBA despite reportedly drawing major offers to remain in Europe.
Pangos, 28, emerged as one of the top point guards in Europe in recent seasons. He has spent time in Spain, Lithuania, and Russia since going undrafted in 2015.
In 2020/21, he averaged 13.5 PPG and 6.6 APG on .449/.390/.845 shooting in 39 EuroLeague contests (28.9 MPG) for Zenit Saint Petersburg, earning a spot on the All-EuroLeague First Team.
Cleveland had been looking to add point guard depth even though it acquired Ricky Rubio earlier this offseason. With only 10 other players on guaranteed contracts, the Cavs had the flexibility to add Pangos.