Josh Childress weighing offer from Greek team

[dirno2000]

LAS VEGAS – In a potentially stunning move that reflects the growing challenge Europe’s basketball leagues pose to the NBA, Atlanta Hawks free-agent forward Josh Childress is strongly considering a three-year, $20 million offer from Greek powerhouse Olympiakos, several league sources said Sunday night.

Childress flew to Greece late Sunday and is scheduled to meet with Olympiakos officials on Monday. Childress, 25, is so flustered with the Hawks’ refusal to make a sign-and-trade deal to another team, one source familiar with his thinking believes there’s “better than a 50-50 chance” he’ll sign with Olympiakos. The team also will cover the Greek taxes for Childress, making the offer even more lucrative.

“Unless he just gets there and doesn’t like it at all, I think he’s going to go,” one league source said.

http://sports.yahoo.com/nba/news;_yl...yhoo&type=lgns

[sike]

This is insane.

[Dtownsfinest]

Damn. I wish we could've signed him. A 3 year 20 million dollar deal seems a bit steep though.

[rabbitproof]

Haha.

USD - epic fail.

Even outside ball, those fools get so much vacay time and their money is now 2:1 to us... it makes sense.

[purplefrog]

This sounds like the same deal the Cavs gave Varejao and Pavlovic last season. They waited them out and eventually both signed two or three year extensions. Both players went on to have mediocre or sub-par seasons. Pavlovic looked uninspired. Is it worth signing these guys after you tick them off?

[Bayliss]

He did sign with the European club.

[dirno2000]

Originally Posted by Bayliss

He did sign with the European club.

Do you have a source for this?

[LSMF]

Damn I really love Childress's Game, its gunna be a shame if he leaves because he is only going to get better.

[Bayliss]

Do you have a source for this?

Sort of.

This from a poster at Real GM. It may be unreliable but I kind of doubt it, considering all the other talk.

"Just aired on European sports television. Josh Childress SIGNED a 3 years $20 million net contract that is equal to a 3 years $33 million gross NBA contract with the Greek league club Olympiacos Piraeus. There it is! Childress got the equal of an $11 million a year NBA contract from a Greek club."

[Bayliss]

And from another message board:

n Italian website is now confirming:

Can you read Italian? I can't.

http://www.basketground.it/pub/138/s...&iso=82&is=138

The translation from *********:

Quote:
A source told BasketGround that Josh Childress accepted a three year deal with Olympiacos in the afternoon. As reported, the Reds will pay more that any offer Childress could receive from an NBA franchise.

[Fidel]

Originally Posted by rabbitproof

Haha.

USD - epic fail.

Even outside ball, those fools get so much vacay time and their money is now 2:1 to us... it makes sense.

That´s exactly what I was going to say. It´s roughly 12 mio Euros in three years. There are soccer players who make close to that in just one year. Given the popularity of basketball in Greece it´s not a surprising move really. It´ll continue.

And you´ll see the same in golf (and other sports) I guess. While you could earn ALOT more on the USPGA tour just a couple years ago the progression of price money hasn´t kept up with the slide of the US$. Suddenly the european tour looks pretty good in comparison though you can still earn more in the US.

[dirno2000]

Looks like Bayliss had good info on this one. Serves the Hawks right for trying to squeeze their young players.

Former Atlanta Hawks swingman Josh Childress is leaving the NBA for Europe.

The Atlanta Journal-Constitution reported on its Web site that Childress, a restricted free agent, has signed a three-year contract with Olympiakos of Greece.

Yahoo.com reported on Monday that Childress, who averaged 11.8 points and 4.9 rebounds last season, had an offer on the table from Olympiakos for more than $20 million over three years. But Hawks general manager Rick Sund told the AJC on Monday that the four-year pro was just exploring his options.

The newspaper reported Monday the Hawks had a deal on the table worth nearly $36 million, with a first-year salary in excess of the mid-level exception of $5.6 million.

While the Hawks could match any offer from another NBA team for Childress, they do not have the ability to match an offer from a European team.

[Bayliss]

Childress Bolts For Greece
Jul 23, 2008 10:04 AM EST

The Atlanta Hawks have lost forward Josh Childress but not to another NBA team.

According to a report published by the Atlanta Journal-Constitution, Childress said he agreed to terms Wednesday morning on a three-year contract with Olympiakos of Greece that is worth far more than $20 million initially reported.

"It's official, I just signed," Childress said by phone Wednesday morning from Athens, where he and agent Jim Tanner will be until Friday. "I think it was . . . a situation where I didn't know who to expect coming in, coming over to Athens. But it's a great city and a great organization. They do whatever they can to make you feel at home."

[EricaLubarsky]

Its a sad state that the NBA and the US are in when we can't even keep contributing players

[MavsFanFinley]

What a dumb move by the Hawks.

I think we're going to see more of this in the future.

[stewartj]

I doubt it will happen, but if Josh Smith wanted to follow Childress over to Europe, he could really stick it to the Hawks. This might become a viable alternative for restricted free agents, or at least a bargaining chip when teams like Atlanta try to low-ball their guys.

[Dirkenstien]

I wonder if teams will try to protect themselves from this in the future by writing it into future contracts that RFA's cannot sign with non-NBA teams.

I could see this becoming a more prevalent prolem in the future. Fell sorry for the Hawks but they may have deserved it.

[dude1394]

I think I read somewhere that he will count against their salary-cap also every year!! Ouch..And if they want to use it they'll have to renounce his rights.

So he gets more dollars and potentially is a free-agent to boot. Nice deal...NBA teams may want to do that but I expect it's in the cba agreement.

[jthig32]

I'd have to think they will renounce him to get taht salary figure back. I seriously doubt he's ever going to come back and play for them.

However, if that happens, it means he won't have Bird rights from anyone if/when he wants to come back to the NBA. And if he performs overseas teams will continue to offer him more money that NBA teams are allowed via the MLE.

It's an interesting situation.

[dude1394]

So he has found a very,very quick way of getting out of an nba contract. Arenas could do this for example and they would have to renounce his rights. Dirkster also if he wanted.

[jthig32]

Well, he wasn't under contract. I would have to think NBA contracts have something in them preventing players from signing contracts with other leagues.

[AxdemxO]

Originally Posted by jthig32

Well, he wasn't under contract. I would have to think NBA contracts have something in them preventing players from signing contracts with other leagues.

Didn't Navaro just leave the Grizz with more then one year left?? Not sure what he had left.

[proballer]

It'll be interesting to see how Childress will handle European rules. He's gonna need some time to adjust!
By the way, the retired Shawn Kemp is contemplating playin' ball in europe as well.
Here's the link : http://nbakingdom.wordpress.com/2008...kemp-in-italy/