Drew Nicholas has left Panathinaikos after three years of titles with the team, the European champion announced on July 16.
The US shooting-guard apparently refused to take a pay cut, which has been proposed to most players of the team, and on the same day he sealed a deal with Armani Milano, according to a statement by the Italian club.
The 30-year-old fired a parting shot suggesting in an interview that he was surprised that Panathinaikos let him go even though he had one more year left on his contract.
?I knew that the coach wanted me and counted on me for the new season,? he said.
Nicholas will join Antonis Fotsis and Yiannis Bourousis, who have also signed for the Italian side.
Another Panathinaikos player who appears reluctant to accept the club?s pay cut is Romain Sato, with negotiations continuing with the Central African small-forward.
Meanwhile, reports in Serbia spoke of a nightmare scenario for Panathinaikos, suggesting that coach Zeljko Obradovic would leave the European champions this summer due to the budget restrictions the owners have imposed.
However, Panathinaikos was quick to refute those reports, stating that Obradovic is going nowhere.