9:56am: Pargo's deal with CSKA Moscow is actually worth $5.2MM in total, for two years, agent Brad Ames tells Adrian Wojnarowski of Yahoo! Sports (Twitter link). For a player whose largest NBA contract was a two-year, $2MM pact, that's a pretty strong incentive to head overseas.

TUESDAY, 8:13am: CSKA Moscow has officially announced Pargo's signing, as passed along in English by Emiliano Carchia of Sportando.

FRIDAY, 2:04pm: Pargo's deal with CSKA Moscow will be a two-year pact that he intends to play out, tweets Shams Charania of RealGM.com. The wording of Charania's tweet suggests Pargo will earn $2.2MM in total, rather than annually, which would make more sense.

10:00am: After having been released by both the Cavaliers and 76ers during the 2012/13 season, Jeremy Pargo appears to be lining up a deal to play overseas. According to Emiliano Carchia and David Pick of Sportando, Pargo has agreed to terms with CSKA Moscow. Pick tweets that the deal would pay the point guard $2.2MM, which almost certainly exceeds any salary he'd land in the NBA.

Pargo, the younger brother of Jannero Pargo, appeared in a total of 39 games for the Cavs and Sixers in '12/13, averaging 6.8 PPG and 2.4 APG in 16.8 minutes per contest. His most successful stretch of the season came when he was subbing in for the injured Kyrie Irving in Cleveland, recording double-digit points in seven games -- that run included a 28-point performance against the Sixers, the team he'd join a few weeks later. The 27-year-old is also no stranger to international ball, having previously played for two Israeli teams from 2009 to 2011.

Assuming the deal is finalized, Pargo will be far from the first player to make the jump from the NBA to CSKA Moscow. Past and present NBA veterans such as Andrei Kirilenko, Alexey Shved, Sonny Weems, and Nenad Krstic have played for the European powerhouse in just the last couple years.

9:48am: The Sixers have officially signed Holiday and waived Pargo, the team announced via press release. The release doesn't specify whether Holiday signed a 10-day contract or a lengthier deal, though according to Mitchell, the deal is for the rest of 2012/13. Pargo departs the team after signing a 10-day contract in February followed by a deal that covered the rest of the season. Philadelphia is on the hook for a prorated portion of the minimum salary for Pargo even though he won't be on the roster anymore. All told, Pargo will make about $265K from the Sixers this year.

MONDAY, 7:59am: Holiday has a signed contract and will be at Sixers practice Monday, according to John Mitchell of the Philadelphia Inquirer. The team will likely waive Pargo or Jenkins to make room. 

SATURDAY, 11:29pm: The Sixers will sign shooting guard Justin Holiday, the older brother of All-Star point guard Jrue Holiday, tweets Marc J. Spears of Yahoo! Sports. The Sixers are at the 15-man roster limit, so they'll have to waive someone on a guaranteed contract to fit Holiday in. It's unclear whether the deal is a 10-day contract or covers the rest of the season.

Holiday has averaged 17.0 points, 5.2 rebounds and 2.5 assists per game for the D-League's Idaho Stampede this season, having spent the year with the club after the Blazers waived him at the end of training camp. The Blazers appeared high on the 6'6" 23-year-old, claiming him off waivers from the Cavs during camp and protecting his D-League rights so they could keep him on their affiliate. Portland never elected to re-sign him during the regular season, however.

I wouldn't be surprised if the Sixers are bringing Holiday aboard on a rest-of-the-season deal with a team option or non-guaranteed year that covers 2013/14. With the team five and a half games out of the playoffs with nine games left to play, there'd be little reason to waive a guaranteed deal just to sign a guy to a 10-day contract, but we'll see. The most likely candidates to go appear to be Royal Ivey, Charles Jenkins and Jeremy Pargo, all of whom are on minimum-salary deals. Damien Wilkins is also making the minimum, but he's been a part of the team's starting lineup of late.

4:45pm: The Sixers have officially signed Pargo a contract for the remainder of the season, the team announced today in a press release.

12:34pm: Following the expiration of Jeremy Pargo's 10-day contract with the 76ers, the team has agreed to re-sign the point guard to a rest-of-season deal, according to Adrian Wojnarowski of Yahoo! Sports (via Twitter).

No corresponding move to clear a spot on the roster will be necessary for the Sixers, who had been carrying 13 players. Even with Pargo under contract for the rest of the season, the club will have one open roster spot to facilitate a trade or sign another free agent.

Pargo, who appeared in 25 games for the Cavaliers earlier this season, was released by Cleveland when the team acquired three Grizzlies players in exchange for Jon Leuer. The Sixers signed Pargo to a 10-day deal back on February 7th, and saw the 26-year-old averaged 8.0 PPG and 2.7 APG in three contests before deciding to re-sign him for the season.

Jeremy is the younger brother of current free agent Jannero Pargo, who signed a pair of 10-day contracts with the Hawks and was recently said to be drawing interest from the Celtics.

The Sixers have signed Jeremy Pargo to a 10-day contract, the team announced today in a press release. No corresponding move will be required, as the team had two open roster spots after deciding not to re-sign Shelvin Mack when his second 10-day deal expired.

After appearing in 44 games last season for the Grizzlies, Pargo was dealt to the Cavaliers, where he averaged 7.8 PPG in 25 contests, including 11 starts, in 2012/13. However, the 26-year-old was the odd man out when Cleveland acquired Marreese Speights, Wayne Ellington, and Josh Selby from Memphis last month, and was waived to clear room on the roster.

Since the contract guarantee deadline passed a month ago, the Sixers have employed a revolving-door approach, using 10-day contracts to bring aboard a number of guards. Prior to Mack's two 10-day deals, the team had signed Maalik Wayns to a 10-day contract.

Pargo's older brother, Jannero Pargo, is also currently on a 10-day contract, with the Hawks.

Shorthanded following the completion of the Rudy Gay trade, the Pistons and Raptors were both beaten in their respective games on Wednesday night. Tonight, in the first game of the post-Gay era in Memphis, the Grizzlies will be tasked with what would be a tough matchup under normal circumstances, as they travel to Oklahoma City to face the Thunder. While we look forward to that game, let's round up a few odds and ends from around the NBA:

• The Mavericks were never going to be a part of a three-team trade with the Grizzlies and Raptors if it meant giving up Vince Carter, team president Donnie Nelson tells Dwain Price of the Fort Worth Star-Telegram.
• Jeff Van Gundy, who admits that he misses being on an NBA bench, is expected to explore potential coaching opportunities starting next summer, according to Sam Amick of USA Today.
• Dwight Howard re-aggravated the torn labrum in his right shoulder on Wednesday night, but intends to play through the pain and isn't currently considering surgery, writes Dave McMenamin of ESPNLosAngeles.com.
• Eddie Sefko of the Dallas Morning News wonders if Howard's injury woes could open the door for the Mavericks to buy low on the All-Star center in a trade.
• Appearing on WEEI's Mut & Merloni in Boston, Leandro Barbosa said the idea he had asked the Celtics to trade him was "definitely a miscommunication" (link via Victor Barbosa of WEEI.com).
• Jeremy Pargo, who was recently waived by the Cavaliers, hasn't ruled out playing overseas, and has drawn some interest from Greece's Olympiacos, reports David Pick of Sportando (Twitter links).

The Grizzlies and Cavaliers have offically finalized a deal that sends Marreese Speights, Wayne Ellington, Josh Selby and a protected first-round draft pick to Cleveland in exchange for Jon Leuer, according to Brian Windhorst of ESPN.com (via Twitter). The Cavaliers have waived Jeremy Pargo to clear room on their roster for the incoming players.

Memphis has been at the center of a number of trade rumors this month, a result of the team's reported desire to get below the tax line. While most of those rumors have involved more expensive players like Rudy Gay and Zach Randolph, I noted last week that Speights was another candidate to be dealt, since moving his $4MM+ salary would be enough to get the Grizzlies out of the tax. That's essentially what Memphis is doing in this deal with the Cavs, moving Speights along with Ellington's $2.08MM expiring contract. Selby and Leuer are a wash, earning identical $762,195 salaries.

Cleveland has the room to absorb Ellington's and Speights' salaries under the cap, while the Grizzlies will move below the tax line for 2012/13. Memphis should also obtain a handful of trade exceptions in the transaction, worth the amount of Speights', Ellington's, and Selby's salaries -- $4,200,000, $2,083,042, and $762,195 respectively.

Speights, 25, was a productive rotation piece for the Grizzlies last year after the team acquired him from the 76ers, starting 54 contests for the club and averaging 8.8 PPG and 6.2 RPG. However, he has seen a reduced role in Memphis this season, with his minutes being reduced from 22.4 per game to 14.5. Because he was playing on a one-year contract (excluding his second-year player option) following his rookie deal, the forward had the rights to veto a trade, but he agreed to be dealt to the Cavs due to that lack of playing time in Memphis, according to Ronald Tillery of the Memphis Commercial Appeal (Twitter link).

For the Cavaliers, Selby and Memphis' pick act as sweeteners to compensate the Cavs for taking on salary, including Speights' $4.52MM player option for 2013/14. Joel Brigham of HoopsWorld wrote yesterday that Selby, who excelled in the Summer League in July, was waiting for an opportunity to try to translate that success to the regular season. He figures to have a better chance to receive that opportunity in Cleveland.

Meanwhile, the first-rounder heading to the Cavs is protected from 1-5 and 15-30 in 2015 and 2016, before being top-five protected in 2017 and 2018 and unprotected in 2019. Like the first-rounder that was traded by the Raptors to the Rockets (and eventually to the Thunder) over the summer, the unique protection makes it a likely lottery pick.

Despite clearing Speights from next year's books, the Grizzlies still project to be likely taxpayers in 2013/14 and '14/15, so as Grantland's Zach Lowe points out (via Twitter), the club could explore more cost-cutting deals in the summer. The trade also brings the Grizzlies' roster to 11 players, two below the NBA minimum, so free agent signings will be required. Memphis is currently considering Delonte West and Bill Walker, among others.

Marc J. Spears of Yahoo! Sports (Twitter links), Brian Windhorst of ESPN.com (Twitter links), Steve Kyler of HoopsWorld (all Twitter links), and Jason Lloyd of the Akron Beacon Journal (Twitter link) were all involved in breaking various details of the story.

The latest news and notes from around the Central Division on Thursday afternoon:

• Keith Langolis of Pistons.com has a new mailbag column in which he answers reader questions about hypothetical trades the team could make for players like Kevin Love and Al Jefferson. Langolis expects the Lakers to make a strong push when Love hits free agency.
• Jessica Camerato of CSNNE.com writes that Anderson Varejao is happy with the Cavs, and wonders whether the Celtics could be a potential trade destination.
• Former Grizzlies owner Michael Heisley denies reports that he would like to buy the Bucks.
• Jesse Rogers of ESPNChicago.com writes that Nate Robinson is not affected by the fact that his contract with the Bulls isn't guaranteed.
• Joe Gabriele of Cavs.com has a Q&A with Jeremy Pargo, who filled in ably for Kyrie Irving when Irving was injured earlier this season.

NBA GMs were polled recently about their thoughts on the upcoming season, and one of the more intriguing revelations is that the Pacers received more votes to win the Central Division than the Bulls, who have finished with the league's best record two seasons in a row but are now without Derrick Rose. Bulls coach Tom Thibodeau is unfazed by the prediction, as Jesse Rogers of ESPNChicago.com notes. Here's more from around the Central.

• It doesn't look like both Donald Sloan and Jeremy Pargo will make the opening-night roster for the Cavs, according to Bob Finnan of The News Herald, who believes Sloan has the best chance to survive cuts (Sulia link). That's a little surprising, since Sloan's deal is without a guarantee, while Pargo has a fully guaranteed deal for $1MM this season.
• With the Cavs' first regular season game just a week away, coach Byron Scott said the only players guaranteed a starting spot are Kyrie Irving and Anderson Varejao, Jason Lloyd of the Akron Beacon Journal reports.
• Mike Dunlap seemed like an out-of-nowhere hire when the Bobcats tabbed him as their new coach this summer, but Rick Bonnell of the Charlotte Observer tweets that the Bulls interviewed Dunlap for their coaching job in 2008, when they hired current Clippers boss Vinny Del Negro.

• Jodie Valade of The Plain Dealer takes a closer look at the decision the Cavaliers have to make on Sloan and Pargo and lists the pros and cons of keeping both. She also notes that Byron Scott believes one of them currently has an edge over the other, but the coach would not elaborate beyond that. 
• Joseph Goodman of The Miami Herald took to Twitter to speculate on what he calls the Heat's "no-doubt-about-it cut list," listing Rodney Carney, Jarvis Varnado, Mickell Gladness, and Robert Dozier. He mentions that the last two spots could come down to a competition among Josh Harrellson, Garrett Temple, and Terrel Harris, adding that he would keep the latter two (Twitter link). 
• Interestingly enough, although Juwan Howard is not part of Miami's training camp roster, Goodman points out that the former Heat player still has a locker. 
• Ben Golliver of the Blazers Edge shared a transcript of Trail Blazers GM Neil Olshey's in-game interview with CSNNW on Friday. Some notable comments include Olshey's thoughts on Will Barton's potential, Nicolas Batum and the team moving forward after his contract extension, and landing J.J. Hickson.
• In response to a report that Stephen Curry will sit out the rest of pre-season, Tim Kawakami of the Mercury News tweets that Curry's long-term extension talks with the Warriors are on hold. 

In this morning's round-up of Celtics items, we linked to ESPN The Magazine's 2012/13 NBA projections, which included the Celtics as a No. 4 seed in the East, behind the Knicks (No. 3). While those ranks are somewhat surprising, the team that ESPN and Basketball Prospectus placed directly behind the top-seeded Heat is even more of a shock: The Hawks will be the East's second-best team, according to the magazine's predictions. We've got updates on Atlanta and a few other Eastern Conference clubs, so let's check them out....

• If and when John Jenkins and Mike Scott officially earn spots on the Hawks' roster, they'll be the team's only draft picks in the last five years besides Jeff Teague to do so, says Chris Vivlamore of the Atlanta Journal-Constitution.
• It's been over three months since Ray Allen officially left the Celtics for the Heat, but the veteran's free agent decision is still a hot topic in both Boston and Miami. Allen appeared on WMEN in Miami recently and said he felt the Celtics put him in a position where he had to leave (link via Sports Radio Interviews). Celtics coach Doc Rivers, meanwhile, says he's over Allen's departure but is still "disappointed" with the way it played out (link via the Boston Herald).
• Landry Fields told reporters, including Al Iannazzone of Newsday (Twitter link) that he lost some of his confidence and comfort level after the Knicks acquired Carmelo Anthony and needed a change of scenery.
• It appears Ersan Ilyasova's new long-term contract with the Bucks has him feeling more comfortable in Milwaukee, writes NBA.com's Steve Aschburner.
• The Cavaliers aren't expected to make their final roster cuts for a few days yet, but it appears one of Donald Sloan or Jeremy Pargo has the upper hand in the backup point guard battle -- coach Byron Scott just won't say which, according to Jason Lloyd of the Akron Beacon Journal (via Sulia).
• Sam Smith fields Bulls questions on Nate Robinson, Kirk Hinrich, and others in his latest mailbag at Bulls.com.