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AFAIK, De Colo's contract situation is the following:
He has still one year of Contract with Cholet (a french team) with a reasonable buyout ($500K or less).
He has signed a pre-contract with Valencia (a Spanish team). It's a three years contract with NBA buyout options after each year. If Nando hasn't signed with a NBA by July 12th, this pre-contract becomes a contract.
The situation is quite simple :
Either Spurs pays his buyout and gives him a guaranteed contract before the SL or Nando will go in Spain for next year.
If he goes to Spain, he won't play Spurs SL because he will play with French NT.
