European free-agent point guard Bo McCalebb is nearing agreement on a contract with a team in Europe, meaning no move to the NBA for now, sources told RealGM.

In an accomplished professional career overseas, McCalebb transformed himself into a star and an NBA-caliber player.

Several NBA teams maintained conversations with McCalebb throughout the offseason, and the 29-year-old had been more inclined than ever to enter the league, but none progressed to deliver a contract.

McCalebb averaged 11 points, three assists and 1.3 steals per game while shooting 56.9 percent from the field for Fenerbahçe Ülker last season – his second year with the Turkish club. He became a free agent shortly before the start of the NBA's July free agency.

Partizan in Serbia has been widely speculated internationally as a possibility for McCalebb, but the club is out of the mix as the 6-foot product finalizes his decision, sources said.

Michael Beasley has agreed upon a deal with the Shanghai Sharks of China.

Beasley was previously on a camp deal with the Memphis Grizzlies.