Raul Lopez, the Jazz's 2001 first-round draft pick, is expected to be in Utah by Tuesday, a team spokesman said.
Lopez, a 22-year-old point guard who has spent the past two seasons with Real Madrid in Spain, has negotiated a buyout of the final four seasons of his Spanish League contract and needs only NBA clearance and the approval of FIBA, international basketball's governing body, to join the Jazz.
His contract originally set the price of a buyout at $5 million, but the Spanish newspaper SUB reported the actual payment will be less than $2 million. Under NBA rules, the Jazz can contribute only $350,000 to the buyout. Lopez reportedly arranged for loans through his agents to cover the difference.
With the financial terms apparently agreed to, the Jazz sent a representative to Spain to accompany Lopez back to Utah, team spokesman Kim Turner said. The pair should be in Utah by Tuesday, though it has not been determined whether Lopez will be cleared in time to participate in the Rocky Mountain Revue, which runs July 19-27 at Salt Lake Community College.
