Despite weeks of rumours that he would be coming to the United States to begin his NBA career.
Sean Cunningham of Fox 40 broke the story on Friday night.
Sacramento traded for Vezenkov's draught rights with the Cleveland Cavaliers, receiving Isaiah Mobley from USC.
Vezenkov averaged 14.9 points and 6.6 rebounds per game for Olympiacos B.C. of the Greek Basketball League and the Euroleague.
He has a great 3-point shooting that he has proven to be consistent from over the years in Europe, which is even more crucial given his size at 6-foot-9.
According to Eurohoop.com, Vezenkov is under contract with Olympiacos until 2024, although he has an NBA buyout clause in his contract for this summer and next year.
Vezenkov earns little about €1 million, which is roughly $900,000.
Given Sacramento's budgetary constraints, a contract for Vezenkov in the NBA would most likely be around the league minimum, which isn't much more than what he is now making in Greece.
In Vezenkov's opinion, that tiny rise may not be worth uprooting his life and maybe waiting on the bench to stay in the NBA.
Vezenkov, 26, may still visit Sacramento at some time, but it won't be this summer.