Nick Calathes will return to PAO if Grizzlies don't pick up option on his contract

Nick Calathes wants to return to Panathinaikos, according to Sport24.gr.

The American-Greek point guard already informed the Memphis Grizzlies that he wants to return to Europe after one year in the NBA.

But the Grizzlies have from June 30 to July 15 to pick up the option on Nick Calathes' contract for next season ($816,482). If they exercise the option, Calathes will remain in the NBA.

If Memphis doesn't pick up the option, Nick Calathes will return to Athens where he has already played winning the Euroleague title.

Panathinaikos offered till $7.5 million in three year to bring Nick Calathes back to Greece.