The Top-16 Euroleague Draw was announced on Wednesday.

Group E will consist of CSKA Moscow, Olympiacos, Efes Istanbul and Galatasaray.

Group F is headlined by Real Madrid, followed by Montepaschi Siena, Unicaja and Gescrap Blbao.

Group G consists of Fenerbahce Ulker, Panathinaikos Athens, Unics Kazan and Armani Milan.

Barcelona Regal leads Group H with Maccabi Tel Aviv, Bennet Cantu and Zalgiris Kaunas.

Click here to view individual stats from the Euroleague Regular Season and here for full team stats.

Real Madrid's Nikola Mirotic has been named Euroleague MVP for the month of December.

During four games in December, Mirotic dominated like never before in leading his team to a perfect record with wins over three other Euroleague Top 16 teams to clinch first place in Group C and a No. 1 seed in the Top 16 Draw.

He recorded his first career Euroleague double-double, set career highs in index rating, scoring and steals and earned weekly MVP honors for the first time. His 18.5 points per game in December came with excellent efficiency.

Mirotic also averaged 6.8 rebounds per game.

The Bulls own the draft rights to Mirotic.

Nenad Krstic has been named Euroleague MVP for Week 9 of the regular season.

Krstic had 17 points on nine shots and 12 rebounds in a 91-75 win for CSKA over Panathinaikos.

CSKA remains undefeated at 9-0.

The Memphis Grizzlies signed free agent Jeremy Pargo to a multi-year contract, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced today. Per team policy, terms of the deal were not disclosed.

Pargo, a 6-2, 219-pound guard, joins the Grizzlies after spending last season with Euroleague powerhouse Maccabi Tel-Aviv, where he was named to the 2011 All-Euroleague Second Team after recording 13.0 points, 3.5 rebounds and 4.3 assists on .463 shooting in 30.0 minutes in 22 games.

Nikola Mirotic scored a career high 26 points in Real Madrid's 88-64 win over Maccabi Electra on Thursday to win Euroleague's MVP award for Week 8.

Mirotic went 4-for-5 from beyond the arc to go with eight rebounds and three steals.

Jonas Valanciunas will not be playing for the Raptors during the 11-12 NBA season.

“I’m currently with Lietuvos Rytas and I’m not really interested in those talks. There’s a lot to be done here. I’m in Lietuvos Rytas, not the Raptors,” said Valanciunas.

“Jonas will stay in Lietuvos Rytas until the end of the season. This has been agreed and we are not going to break the agreement,” said the club’s sporting director Martynas Purlys.

Raptors head coach Dwane Casey recently spoke about what he saw from Jonas Valanciunas at EuroBasket.

"Jonas has had a whirlwind summer and he's just 19," said Casey. "He played in the 19-and-under tournament and they won that. Then he goes right to the Senior National Team at EuroBasket, they finish -- in their minds -- a disappointing fifth in their home country. So that was disappointing for the program and for him because he had played well with them. Then he turns around and has to play for his professional team in Vilnius and then they don't make the EuroLeague, they make the EuroCup. He's had to compete in three pressure situations right in his own country with the spotlight being bright on him, which is a good thing. It helps him grow up a little bit.

"But he does so many positive things. He plays hard, he has a quick motor in terms of rolling to the basket and running the floor defensively. He definitely had an offensive presence that I was really impressed with. Now our key as a coaching staff is translating that from a European league to the NBA game, which is going to take time and we've got to be patient with him. But I'm really impressed with his skill level, what he brings to the table as far as hard play, running the floor, blocking shots and just his energy level.

"He's not a typical big man that's a plodder, he's athletic for his size, which is going to help him transition to the NBA a lot quicker."

Valanciunas is coached on Litetuvos Rytas by Alexander Dzikic, who was an assistant of Casey with the Wolves. 

"I plan on saying staying in touch with Alex. They're using the same terminology and some of the same offensive sets that we used and are going to use here, so that's going to help. Alex is going to help him with his English and try to get Jonas ready and let him know what NBA culture is about, so that will help the transition be a little bit quicker. He’ll tell him some of the things he can or can't do and just prepare him for being in an NBA setting. That's a big plus for us to have him there as his coach. He's got a job to do, which is try to win for his team, but on the other hand he's going to try to help Jonas as much as he possibly can."