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Source: Emmanuel Mudiay agrees to $1.2 million deal to play in China

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Emmanuel Mudiay has agreed to a one-year, $1.2 million contract with Guangdong of the China Basketball Association, the richest overseas contract ever for a high school player, a source told Yahoo Sports.

Mudiay, 19, had been faced with eligibility issues for his freshman season at Southern Methodist University under Hall of Fame coach Larry Brown and made the decision to play in China before becoming eligible for the 2015 NBA draft.

[Related:  Will Mudiay's move start a trend?]

Mudiay, a 6-foot-5 guard, is considered a lottery pick in the Class of 2015. With the Chinese season ending in March, Mudiay's plan will be to return to the United States and use the remaining few months to prepare for the 2015 draft in June, a source said. Mudiay has also taken out insurance policies to protect him in China against injury that could impact his future earnings, a source said.

Guangdong is an elite Chinese team that won 30 of 34 games in the CBA last season. The roster included former NBA lottery pick Yi Jianlian and ex-NBA guard Royal Ivey.

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