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Pretty sure he signed a pro contract
He signed a contract with a pro basketball team, but unlike in the USA, these teams have amateur academies. His contract is with the amateur team. It is no different than anyone who comes out of a European amateur academy.
It's the equivalent of signing enrollment papers in an American prep school. On the other hand, he is prohibited from joining any other amateur club in Europe based on that amateur contract.
He can play in college next season.