The deal includes a partial guarantee in the first year and a non-guarantee in the second season, sources said.
Bender's career never gathered traction in the dysfunction of the Phoenix Suns after they selected him with the No. 4 overall pick in 2016, but there is hope that he can develop under coach Mike Budenholzer on a championship contender that can take a longer view with his career.
Bender, 21, started 64 games in his three years with the Suns, averaging 5.3 points per game. He was considered one of the world's top young prospects coming out of Croatia as a teenager.