Nick Calathes: The biggest thing since … Kosta Koufos?

That was the word out of Greece when news broke that Calathes was foregoing the orange and blue of Florida and the green of the NBA for a contract with Greek powerhouse Panathinaikos.

The deal, which seemed curious at first, starts to make sense as more details emerge.

The contract, which could be worth up to $2 million a season, is on-par with what a high-lottery pick will receive in the June NBA Draft. Calathes was slated to be a late first-round pick, possibly falling into the second round, where contracts are not guaranteed.

There also seems to be a lot of buzz throughout Greece about the arrival of the Gators’ two-time assist king.

“Nick is the future,” said one fan on the Greek Web site “The Gazzetta.”

“After (former Ohio State and current Utah Jazz center Kosta) Koufos, he is the greatest Greek talent,” said another.

The move to Greece also seems to be improving Calathes’ draft stock this year.

With the crop of talent available for the June 25 selection meetings as thin as it’s been in many years, teams in the lower end of the first round are trying hard to get out of the guaranteed three-year deals given to first-round picks.

“There’s not a lot of long-term talent in that area,” one eastern conference executive said last week. “A lot of teams are trying to sell off those picks. A few teams without a first are interested, but not enough to meet the demand. If you can stash a player overseas for a few years, you can save some money now.”

Calathes is still eligible to be taken in the draft, and some team is likely to grab him in the latter-half of the opening round. By doing that, the team owns his rights until his Greek contract expires. That team can then bring him back to America for an NBA contract if both sides agree.

If Calathes improves enough and wants to take another shot at the NBA, the buyout in the deal is minimal and he can return as early as next year.

ESPN analyst Chad Ford noted this about Calathes in his latest mock draft, projecting him at No. 24 to the Portland Trail Blazers.