HoopsHype.com NBA Blogs - Jorge Sierra

Former Rockets guard Von Wafer is close to leaving Olympiakos and returning to the NBA with the Memphis Grizzlies, one source told HoopsHype.com. Wafer’s European agents are working today to rescind his contract with the Greek powerhouse. The 6-foot-5 guard could soon afterwards join the Grizzlies for the rest of the season, the source said.

Wafer’s departure is apparently of mutual agreement. Wafer was due to make $2 million with Olympiakos this year but the team’s coach, Greek legend Panagiotis Giannakis, wasn’t playing him for the last few games. Management didn’t want to have that type of investment sitting on the bench, according to the source, so both sides decided to come to a quick resolution.

Wafer had his best season in the NBA last year with averages of 9.7 ppg and 1.8 rpg.

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Sources tell HoopsHype.com free agent guard Von Wafer signed this afternoon a two-year contract with Olympiakos worth $4.2 million without taxes - approximately $10 million gross. He has an opt-out clause to return to the NBA after the first season.

Wafer, a journeyman who has played with five NBA teams in four years, averaged a career-high 9.8 ppg with the Rockets last season.

Olympiakos signed Lithuanian forward Linas Kleiza earlier in the day for $5 million, also without taxes.

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