Calathes has elected to remain with Panathinaikos of the Greek Basketball League for the 2016-17 season, international basketball writer David Pick reports.
The Kings were apparently exploring the possibility of luring Calathes back to the NBA due to his familiarity with new coach Dave Joerger, who had previously worked with the point guard during his time with the Grizzlies. However, with Calathes entering the second season of a three-year, $7 million pact with Panathinaikos, the 27-year-old elected to stay in Europe, where he'll likely earn a higher salary than he would have at the NBA level. Calathes could entertain a return to North America in 2017-18 if he continues to perform well for the Greek club during the upcoming campaign.