CLEVELAND -- The Cavaliers signed point guard Kevin Pangos to a two-year deal, his agency announced Wednesday on Twitter.
The contract is worth $3.5 million, agent Zach Kurtin of Priority Sports told ESPN's Bobby Marks. Pangos' first-year salary of $1.67 million is fully guaranteed.
The 28-year-old Canadian spent the past six years playing in Europe.
"Hard work pays off," Priority Sports tweeted after Pangos signed. The Cavaliers have not announced the signing.
Pangos most recently played for Zenit Saint Petersburg, where he averaged 13.5 points and 6.6 assists while being named All-EuroLeague.
One of Cleveland's offseason priorities was adding depth to its backcourt. The Cavaliers acquired veteran Ricky Rubio this summer in a trade with the Minnesota Timberwolves, and Pangos gives them another guard with experience.
Pangos can also help mentor young guard Darius Garland, who is heading into his third NBA season.
Pangos played college ball at Gonzaga, where he set the school record with 322 3-pointers -- a mark that stands. The 6-foot-2 Pangos was not drafted after he left the Zags in 2015.
He played in Canada's national program and helped his country clinch a berth in the 2019 FIBA World Cup.
The Associated Press contributed to this report.