From yesterday’s Los Angeles Times:

Yaroslav Korolev will return to the Clippers.

The former lottery pick, who became a free agent when the team declined to exercise his contract option, agreed to terms Friday on a two-year deal.

"The situation with the contract is not final yet, but we're working on it and I'm still with the Clippers," Korolev said. "I'm happy I'm going to be here."Under NBA rules, Korolev's new contract, which guarantees him about $800,000 and includes a team option for the 2008-09 season…

After the season, the Clippers had the option of picking up Korolev’s rookie contract to the tune of $2.7M for 2007-2008 but, to nobody’s surprise, declined the option.  

Korolev is only 20 years old.  Though we saw only 42 minutes of him last season, he presumably has the same skill set he did when the Clippers drafted him #12 in the 2005 draft.  The popular mythology among the naçion is that Korolev is beastly in practice, during which he flashes his athletic freakishness and deft passing skills. Remember, Korolev won the 2005 L'Hospitalet Junior Tournament’s slam dunk contest [yes, I realize that we’re talking about Europeans, but still…].

With Maggette and Thornton [not to mention Thomas who is basically a 3] at the small forward, where and when Korolev will play is another matter.  At 6’ 10” and considering the state of the Western Conference game, it’s conceivable that Korolev, with his length, could spell Brand at the 4.  However many minutes Korolev plays, a mere $800,000 buys Mike Dunleavy another year to work with the organization’s most intriguing project.