Costello signed a two-year deal, reportedly raising his yearly salary by more than €200,000.
After three years with Baskonia Vitoria-Gasteiz, Matthew Costello is moving to another club in Spain.
Valencia Basket officially announced that the 30-year-old forward is joining the organization on a two-year deal.
Costello averaged 9.4 points and 4.5 rebounds for 10.8 PIR per game for Baskonia in the EuroLeague last season. His stats were a bit better in the Spanish Liga Endesa - 11.9 points and 4.8 rebounds for 13.5 PIR.
According to Ivan Benito from El Correo, Baskonia decided not to match the offer from Valencia. The five-day mandatory right of first refusal period ended, and Costello transferred to Valencia.
The journalist notes that Costello raised his salary by more than €200,000 per season.
Valencia will compete in the EuroCup next season after failing to secure a wild card in the EuroLeague. The club was seeded to the strongest Pot 1 for the EuroCup group draw.
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