Zoran Dragic, Suns agree to contract

Slovenian shooting guard Zoran Dragic and the Phoenix Suns have agreed to terms on a two-year deal worth slightly more than $4 million, according to NBA front-office sources.

The sides signed off on the deal Thursday, and sources say Dragic already has initiated buyout proceedings with his club in Spain.

One source told ESPN.com that the deal, which is fully guaranteed for the next two seasons, will pay $1 million to Unicaja Malaga to release Dragic from his Spanish contract, with the Suns expected to contribute $600,000 to that amount.