Nick Calathes has informed the Grizzlies that he wants to return to Europe to play for Panathinaikos in Greece.
CSKA Moscow raised its offer to Nick Calathes to a three-year, $6.5 million deal.
Nick Calathes will be suspended 20 games for violation of the NBA's Anti-Drug Policy.
Nick Calathes had a potent stat line in his 18 minutes off the bench on Friday with 11 points, eight boards, two assists and two steals.
Nick Calathes played 30 minutes off the bench and had 10 points, five rebounds, five assists and four steals on 5-of-10 shooting Wednesday.
Nick Calathes had 11 points, three rebounds, five assists, a steal and a 3-pointer on 4-of-7 shooting on Tuesday, but played just 19 minutes due to the return of Mike Conley from an ankle injury.
The Grizzlies beat the Magic in Orlando on Wednesday behind a well-rounded game from Nick Calathes, who finished with 12 points, five rebounds, six assists, four steals and two blocks.
Nick Calathes took it to John Wall on Tuesday night during a win, scoring 18 points with seven boards, six assists, two steals and one 3-pointer in 36 minutes.
Grizzlies PG Nick Calathes scored 17 points on efficient 7-of-9 shooting during Sunday's loss in Cleveland, adding two 3-pointers, five rebounds, six assists and one steal.
Nick Calathes hit just 5-of-15 shots and no 3-pointers on his way to 10 points, three rebounds, five assists and three steals in Saturday's win over the Hawks.
Nick Calathes played 41 minutes in another start on Wednesday with 16 points, five boards, five assists, three steals and two 3-poitners.
Nick Calathes did not make any 3-pointers against the Thunder on Monday with eight points, three boards, three assists, four steals and no turnovers in 29 minutes.
Nick Calathes made the first start of his career on Saturday vs. the Bucks with 22 points, five boards, three assists, one steal and four 3-pointers in 40 minutes.
Nick Calathes will get the start against the Bucks on Saturday.