View Full Version : Childress signs contract with Olympiakos

07-23-2008, 04:35 PM
Hawks restricted free agent Josh Childress has officially signed a three year contract to play for the Greek team Olympiakos.

Exact amounts are unknown, but it is reportedly the most lucrative contract in Euroleague history, and is fully guaranteed. Childress isn't the first NBA player to defect to the European league this summer, but he is easily the best. A precedent has been set, and it's unlikely to be reversed by anything except higher salaries. Meanwhile, Atlanta loses one of their best players and gets nothing but a tattered reputation in return. So much for last season's good vibes


What a smack in the face to Atlanta.

ZITO Y ELADS!!!!!!!!:dance2: :dance2:

07-23-2008, 07:30 PM
EUROLEAGUE (http://www.euroleague.net/news/i/34019/180)

American forward Josh Childress has signed a multiyear contract with Euroleague power Olympiacos Piraeus, the team announced Wednesday. Childress (203, 25) arrives from Atlanta of the NBA where he has spent the past four seasons. He traveled to Greece on Monday to familiarize himself with Athens and to finalize the negotiations. Childress averaged 11.8 points and 4.9 rebounds in 76 regular season games last season and has averaged double figures in points in each of his NBA seasons since being selected with the sixth overall pick in the 2004 NBA draft. Before that Childress played college basketball at Stanford University, where he was named the 2003-04 Pac-10 Conference Player of the Year. He joins a star-studded cast at Olympiacos, which includes two current and two former All-Euroleague selections – three of whom (Theo Papaloukas, Yotam Halperin and Nikola Vujcic) joined the club this summer.

"I came to a great city and a big club. They have an outstanding organization and they managed to make me feel at home," Childress said after signing. He is due to return to the United States this week with three official Euroleague basketballs to practice with as he prepares for the Euroleague Basketball season.

Olympiacos plays Maccabi twice in the 1st stage of the Euroleage, I will have to try to watch more games next year

Sports Illustrator
07-24-2008, 10:52 AM
Sorting through the difference between Euros and dollars was crucial for Josh Childress and his representatives as they weighed an offer from a Greek team (Olympiakos) paying with Euros and an NBA team (Hawks) paying with dollars. Either way you slice it Olympiakos was offering more, including an annual salary nearly twice the value of the Hawks' offer annually: club becomes a net of salary of about $6.7 million a year for Childress. The Hawks offered five years and $33 million, which after taxes paid by Childress becomes a net salary of about $3.4 million per year for Childress. In addition to the double-stuffed salary Olympiakos also pays for all of Childress' living expenses, including luxury accommodations, a car and driver and maid service. Childress also has an annual opt-out clause in the contract that will allow him to weigh his NBA options, as a restricted free agent provided the Hawks tender a qualifying offer to him, every summer.

From Atlanta Journal Constitution (http://www.ajc.com/sports/content/sports/hawks/stories/2008/07/23/hawks_childress_contract_numbers.html)

Jwalk, now only are we going to need a new Esteban Batista thread, but now we're also going to need an official Josh Childress thread.

07-24-2008, 05:21 PM
a Josh Childress thread might be harder to do, mainly because most of the news about him over the next 3 seasons or so will be in Greek. I'll start the new Esteban Batista thread soon though