Cedi Osman, Kendrick Nunn sign contract extensions with Greek club Panathinaikos

Former NBA players Cedi Osman and Kendrick Nunn have both signed contract extensions with Panathinaikos, the defending EuroLeague champion, team owner Dimitris Giannakopoulos announced, via BasketNews.

Nunn has secured a three-year extension with the Greek powerhouse, while Osman’s deal will keep him with the team for two additional years.

According to reports from Greek outlet SDNA, Nunn’s extension will make him the highest-paid player in the EuroLeague, with an average annual salary of €4.5 million (approximately $4.9 million). The contract, which is fully guaranteed, does not include NBA out clauses, according to BasketNews’ Donatas Urbonas.

Osman, 30, played for the San Antonio Spurs during the 2023-24 NBA season but failed to secure a favorable contract offer this past summer. He joined Panathinaikos in September and has been a key contributor.

The Turkish forward has averaged 7.9 points and 2.4 rebounds in 31 EuroLeague games this season, with a shooting line of .444/.379/.812. Osman had previously expressed hopes of returning to the NBA but will remain with Panathinaikos until 2027 under the terms of his new deal, though details on any potential out clauses remain unclear.

He spent the first six years of his career with the Cleveland Cavaliers.

Nunn, 28, has excelled in Europe since leaving the NBA. The American guard, who last played for the Washington Wizards during the 2022-23 NBA season, has been one of the standout players in the EuroLeague.

This season, he has averaged 20.8 points, 3.6 rebounds, 4.2 assists, and 1.1 steals per game, shooting .503 from the field, .419 from three-point range, and .846 from the free-throw line over 32 EuroLeague games.

Panathinaikos, currently third in the EuroLeague standings with a 21-12 record, boasts a star-studded roster that includes several former NBA players and EuroLeague veterans. The team also went undefeated in Greece’s top domestic league regular season, finishing 22-0, and will soon begin its playoff campaign.