Valencia Basket paid a buyout fee of around €300,000.
Virtus Segafredo Bologna officially announced that the team has parted ways with forward Semi Ojeleye.
The Italian squad also communicated they transferred the player's rights to Valencia Basket.
Ojeleye signed a two-year deal with the Spanish team, Valencia officially announced in a couple of hours.
On Friday, BasketNews' Donatas Urbonas reported about Ojeleye nearing an agreement with Valencia.
The 28-year-old Ojeleye had one year left on his Virtus contract signed last offseason. However, Bologna couldn't keep the Nigerian/American player due to budget cuts.
Valencia paid a buyout fee of around €300,000, according to BasketNews sources.
Ojeleye debuted in the EuroLeague during the previous season, averaging 10.5 points, 3.8 rebounds, 0.6 assists, and 10.8 PIR over 24 games.
He also claimed the Italian Supercup and became the tournament MVP.
Prior to Virtus, Ojeleye had enjoyed a six-season journey in the NBA. He represented the Boston Celtics (2017-21), Milwaukee Bucks (2021-22), and Los Angeles Clippers (2022) and posted 3.4 points and 2.2 rebounds in 284 appearances (24 starts).
His best NBA season came in 2020-21 when Ojeleye posted 4.6 points in an NBA career-high 17 minutes of action.
 | Valencia Basket | |
| Position | Player | Status |
| PG | Chris Jones | Signed until 2026 |
| PG | Martin Hermansson | Signed until 2024 |
| SG | Jonah Radebaugh | Signed until 2024 |
| SG | Josep Puerto | Signed until 2025 |
| SF | Victor Claver | Signed until 2024 |
| SF | Xabi Lopez-Arostegui | Signed until 2025 |
| SF | Millan Jimenez | Long-term |
| SF/PF | Semi Ojeleye (story) | Signed until 2025 |
| SF/PF | Jaime Pradilla | Signed until 2024 |
| PF | James Webb III | Signed until 2024 |
| Coach | Alex Mumbru (signed until 2025) | |
| Expired contract | Klemen Prepelic (will not return), Jasiel Rivero, Kyle Alexander (will not return), Jared Harper, Sam Van Rossom (will not return) | |
| Rumored to leave | Bojan Dubljevic (will not return), Jasiel Rivero, Nenad Dimitrijevic (won't return), Shannon Evans (won't return) | |
| Interested | Brandon Davies (story), Kassius Robertson | |
See all the EuroLeague transfer market news here.
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