Jonas Valanciunas Nearing Move to Panathinaikos, Set to End 13-Year NBA Career

Jonas Valanciunas, a legacy of Lithuania’s basketball legacy, is poised to bring his 13-season NBA journey to a close. The 33-year-old center is reportedly close to signing with Greek giants Panathinaikos Athens, according to sources from BasketNews.

The move, which signals a major shift in Valanciunas’ career, hinges on a lucrative three-year offer from Panathinaikos worth nearly €12 million net (around $13 million). The deal promises not only financial security but also a central role in a team built to chase EuroLeague glory, a significant allure for a seasoned veteran who still has plenty to offer.

Valanciunas’ current NBA contract was only guaranteed through the 2025–26 season with the Denver Nuggets, who are set to pay him $10.4 million gross. A $10 million team option for the 2026–27 season remains undecided, and while Valanciunas initially viewed his recent trade to Denver as an opportunity to join a title-contending rotation, the pull of Panathinaikos appears to have outweighed the NBA’s uncertain future.

Greek outlet SDNA was the first to report Panathinaikos’ interest, naming Valanciunas as their top market target. That interest now seems to be materializing into a signature, marking a significant coup for the Athens-based club.

Though the trade involving Valanciunas — reportedly from Sacramento to Denver — cannot be finalized until Sunday, its completion is crucial for the Kings, particularly for salary cap considerations, according to NBA insider Marc Stein.

Valanciunas brings a wealth of experience and consistency. In the 2024–25 NBA season, he played all 82 games, averaging 10.3 points on 61.9% shooting, 7.7 rebounds, and 2 assists in under 19 minutes per game. Over his entire NBA career, spanning time with the Toronto Raptors, Memphis Grizzlies, New Orleans Pelicans, Washington Wizards, and Sacramento Kings, he averaged 13.1 points, 9.3 rebounds, and 1.4 assists in 25 minutes per contest.

For Panathinaikos, this move signals serious intent in their EuroLeague ambitions. For Valanciunas, it’s a homecoming of sorts, a return to the European stage where he once thrived before crossing the Atlantic. Now, with his legacy in the NBA firmly etched, the Lithuanian giant looks set to craft a new chapter in Athens.