The deal also includes an option for Lokomotiv to extend Randolph's contract to the end of the 2015-16 season.
Randolph is a former 2008 lottery pick by the Golden State Warriors, where he played his first two seasons. The 25-year-old has also played with the New York Knicks and Minnesota Timberwolves, and most recently spent two seasons with the Nuggets.
In 2013-14, Randolph played 43 games for Denver, averaging 4.8 points and 2.8 rebounds per game. On the night of the 2014 NBA draft, he was traded to the Chicago Bulls, who later traded him to the Orlando Magic in July.
Born in West Germany, Randolph played for LSU in college.
- Molly Geary