Monday , Jan , 26 , 2009 C.Y. Ellis

Jannero Pargo Moves to Olympiakos

Former New Orleans Hornets guard Jannero Pargo will soon finalize a move from Dynamo Moscow to Greek club Olympiacos, his agent confirmed Monday.

It’s believed that multiple NBA teams had interest in signing Pargo had he opted to make an in-season return to the States after completing a buyout with his Moscow club.

Pargo signed a one-year, $3.5 million contract with Dynamo last summer, but the club has struggled to make payroll and recently learned that it would not receive the subsidy it was expecting from the Russian military (Dynamo is also known as the Red Army team).

But Pargo has chosen to sign with Olympiacos as a replacement for injured former Atlanta Hawks swingman Josh Childress, after Olympiacos also reportedly showed interest in exiled New York Knicks guard Stephon Marbury.