Pangos, 29, played six seasons in Europe before earning a roster spot with Cleveland in training camp. He signed a two-year, $3.5MM contract in September, but only the first season was guaranteed at $1.67MM. Pangos saw spot duty in 24 games for the Cavs, averaging 1.6 points and 1.3 assists in 6.9 minutes per night.
A report earlier this month indicated that Pangos has an offer waiting from CSKA Moscow (hat tip to Alessandro Maggi of Sportando). The rumored contract would be worth $6MM and would run through the end of the 2023/24 season.
Cleveland had a full roster before unloading Pangos and may need the open spot to be active on the buyout market.