David Blatt has stepped down as head coach of Russia's national team.

Blatt led Russia to a gold medal at EuroBasket 2007 and a bronze at the 2012 Olympics.

"With mixed feelings, I announce my retirement from the national team of Russia, a team that was a significant part of my professional life," said Blatt in a statement. "My decision is based solely on my sense of what is now the right time. I do it for personal reasons."

Blatt is also the head coach of Maccabi Tel Aviv.

Joey Dorsey has agreed to part ways with Olympiacos.

Dorsey averaged 6.6 points, 5.6 rebounds and 1.6 steals in A1 League play last season.

Dorsey, 28, has spent time with the Houston Rockets, Rio Grande Valley Vipers, Toronto Raptors and Caja Laboral.  

Sonny Weems earned the Euroleague MVP honor for week 2 of the regular season.

Weems scored a game-high 30 points in a 76-71 road win over Partizan Belgrade last Thursday.

Weems is tied for the Euroleague scoring lead with Jordan Farmar at 22 points per game.

The Indiana Pacers have released center Luke Nevill along with guards Sundiata Gaines and Blake Ahearn have been released, putting the Pacers’ roster at 15.

Nevill saw limited game action in two games, scoring one basket. Gaines also played in two games, scoring four points, and Ahearn played in three games, scoring five points.

Gilbert Arenas is close to signing a one-year deal with the Guangdong Southern Tigers, according to a source.

Arenas spent last season with the Memphis Grizzlies.

Morris Almond is leaving Red Star Belgrade after the two sides mutually agreed to terminate his contract.

Almond averaged six points over six games for Red Star.

The Mavericks waived Josh Akognon, who was signed as free agent on Sept. 27.

Akognon played in three preseason games and averaged 2.3 points in 3.7 minutes.

A source told RealGM in September that Akognon would return to China assuming he didn't make the regular season roster of the Mavericks.

Unlike many players who go undrafted, Jeremy Lin had no interest in pursuing a professional basketball career overseas.

Lin was planning on giving himself one more year to establish himself in the NBA before pursuing a career with his Harvard degree.

"I absolutely would not have liked playing in Spain or somewhere like that, so I was just gonna do it a year," said Lin. "Then I was gonna be done."

Lin did not care for his experience in the D-League while a rookie in the Golden State Warriors' organization.

"I'm going to be honest, playing in D-League games is tough," said Lin. "We got way more fans at Harvard games. It feels like a demotion, and it feels like if you have one bad game then the thought gets in your brain: I might get cut."

Nikola Mirotic impressed Zach Randolph when the Memphis Grizzlies played against Real Madrid this week.

The Bulls own the draft rights to Mirotic.

"I like his game," Randolph said. "The kid can play. He has to come into his own. But that kid has a shot. I don't think he's physical enough to be in the NBA as a power forward or center as of now. But he can play small forward the way he shoots. He can move real well. I didn't see a lot of ball-handling skills, but he'll be all right."

Mirotic is expected to remain with Real Madrid for at least two more seasons.

"He can shoot," Grizzlies coach Lionel Hollins said. "He knows how to play. It's about getting stronger and learning the NBA game. It's so much more aggressive and physical. Over (in Europe), guys just stay on the perimeter and shoot.

"That part will be tough for him. We went small and played Rudy Gay at power forward and he became a non-factor. If he's playing against a bigger four, he'll have more of an advantage."

Tracy McGrady is finalizing a one-year contract with Qingdao of the Chinese Basketball Association, according to sources.

McGrady was unsuccessful in trying to secure a guaranteed NBA contract for this season and decided against trying to make a roster in training camp.

McGrady is still considered a popular player in China due in part to his long tenure as Yao Ming's teammate with the Rockets.

McGrady worked out for both the Knicks and Spurs within the past month.