Jarvis Varnado will be with the Miami Heat for training camp.
A report in La Gazzetta dello Sports indicated Varnado was close to a deal in Italy.
"Fact is, Jarvis is under contract with the Heat. Jarvis hasn't accepted any offer from any team in Europe and Jarvis plans on playing for the Heat next year," Frankel said. "There's a lot of teams in Europe that have contacted us about Jarvis and his plans."
Sidigas Avellino is the Italian SerieA team that has been linked to Varnado.