Vezenkov signed a five-year, $18.5 million contract with Greek club Olympiacos on Thursday, Evan Sidery of Forbes.com reports.
The Raptors waived Vezenkov on Monday, Blake Murphy of Sportsnet.ca reports.
The Kings traded Vezenkov and Davion Mitchell to the Raptors in exchange for Jalen McDaniels, Adrian Wojnarowski of ESPN reports.
Contrary to a previous report, Vezenkov said he will honor his contract with the Kings and that he wants to stay in the NBA, Sean Cunningham of Fox 40 Sacramento reports.
Vezenkov has informed the Kings he does not plan on returning for the second year of his contract, Mihalis Stefanou of eurohoops.net reports.
Vezenkov (ankle) tallied five points (2-3 FG, 1-1 3Pt), two rebounds, two steals and one assist across 10 minutes off the bench in Sunday's 127-106 win over Utah.
Vezenkov (ankle) is available for Sunday's game against the Jazz, James Ham of ESPN 1320 Sacramento reports.
Vezenkov (ankle) is questionable for Sunday's game against the Jazz.
Vezenkov (ankle) will not play Friday against the Mavericks.
Vezenkov (ankle), who is questionable for Friday's game against the Mavericks, fully participated in the Kings' morning practice session, Jake Gadon of CBS Sacramento reports.