FRIDAY, 4:37pm: The Spurs have officially signed De Colo, the team announced today in a press release.
TUESDAY, 12:03pm: Nando De Colo will leave Spanish team Valencia BC and sign a two-year deal with the Spurs, Valencia announced today (English link via Sportando). The 6'5" guard was drafted by San Antonio with the 53rd overall pick in the 2009 draft, and the Spurs have held his NBA rights since then.
"It is a honor for me to sign with the Spurs but I will always remember my years in Spain with Valencia" said De Colo, whose contract in Spain expired this season. The 25-year-old will find some familiar faces in San Antonio when he arrives, having played on the French national team with current Spurs Tony Parker and Boris Diaw. According to DraftExpress, De Colo averaged 13.1 PPG on .423/.355/.858 shooting in 34 games in Spain's ACB League this season.
The move is the fourth in a series of agreements the Spurs have reached in the last 24 hours — the team will also re-sign Tim Duncan, Danny Green, and Boris Diaw when the moratorium ends in about 11 hours.