Marca.com is reporting that Regal Barcelona is in the process of buying Ricky Rubio's contract from DKV Joventut for 3.7M Euros.  If the deal is completed, it will be the most expensive transfer in Spanish basketball history.

As part of a new six-year deal with Barcelona, Rubio will have the right to leave for the NBA after the second season, which suggests the No. 5 overall pick of the Timberwolves will play the next two seasons in Europe. The buyout would likely fall within the $500,000 cap set by the NBA.

Jeremy Tyler signed a one-year, $140,000 contract with Maccabi Haifa of the Israeli Premier League on Wednesday.

Tyler, 18, is the first American-born player to leave high school early to play professional basketball overseas.

"I think I made the right decision," Tyler told The Associated Press on Wednesday evening. "I think this team is a good fit for me and it's the right country."

Von Wafer has been signed by Olympiakos to a $5 million contract over two years.

Wafer emerged as one of the Houston's best wing players off the bench after moving around the NBA.

Linas Kleiza has agreed to a two-year, $12.2 million with an opt-out next year with Olympiakos, a source told Marc Spears of Yahoo! Sports.

RealGM Note: Kleiza emerged as a potent scoring option off the bench for the Nuggets, but the free agent found a depressed economy for his services.

Jeremy Pargo of Gonzaga will replace Brian Roberts in Galil/Gilboa in Israel. Pargo wasn't drafted, but averaged 10.0 points for the Pistons in Las Vegas.

He also worked out with Orlando Magic, but decided to take his chances abroad.

Olympiakos is offering Allen Iverson a $10 million contract over two years.

This offseason, Olympiakos offered Nate Robinson a contract similar to the one they are offering Iverson.

Jared Jordan, a second round pick in the 2007 NBA Draft, is shifting his attention towards building a career for himself in Europe.

Jordan spent a year in Lithuania making good money but playing behind former Oklahoma star Hollis Price.  Last season, he was in the D-League where he was able to play heavy minutes, but made little money.

"For the first time in my life I really feel like I'm ready for something like this," Jordan said. "I'm just ready to get out and go. The NBA is always the dream, but there does come a point where you have to focus on a career in Europe. You just have to find the right situation."

Jeremy Tyler has reportedly found a deal in Europe, several months after dropping out of high school, according to a Tweet from Jonathan Givony of DraftExpress.

'Hearing Jeremy Tyler close to signing 3 year deal with Olimpija Ljubljana, Euroleague team from Slovenia. $150k per, 400k buyout after 2 yr.'