Shved had been considering offers in the NBA but ultimately decided to head overseas.
According to Ian Begley of ESPN.com, agent Mark Bartelstein stated conversations with the New York Knicks hadn't yielded much progress. As a result, the guard is moving on, but he isn't closing the door permanently.
Marc Berman of the New York Post noted remarks from another one of Shved's agents, Obrad Fimic, who confirmed the breakdown in talks with the Knicks and discussed the other options on the table: "We didn't get to the right number with the Knicks. Maybe next season. We are considering a return to Europe where we have two huge offers."
The 26-year-old Russian combo guard has spent three seasons in the NBA with four different teams. His best play to date came with the struggling Knicks during the latter stages of last season, as he averaged 14.8 points, 4.6 rebounds and 3.6 assists in 16 games.
A rib injury cut short his campaign, however, and now it's a mystery if he'll get a chance to build off that success in the NBA at some point in the future.
The media blitz from his agents may have been an effort to increase the Knicks' offer. But with a backcourt that consists of Jose Calderon, Arron Afflalo, Jerian Grant and Langston Galloway, New York was clearly hesitant to meet his apparent contract demands.