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Published Wednesday, July 23, 2008 in Sports
Hawks guard Childress signs with Greek club
ATHENS, Greece (AP) -- Atlanta Hawks guard Josh Childress signed a three-year contract with the Greek club Olympiakos on Wednesday.
Childress was a restricted free agent, which meant the Hawks had the right to match offers from other NBA teams, but not from international clubs. Agent Lon Babby said the deal was worth about $20 million after taxes and was far more lucrative than what Childress could have received in the United States.
The money is guaranteed, and Childress can opt out of the contract after each year.
"It's obviously a bit different, being the first player to do something like this," Childress said on a conference call. "But I think it's a great opportunity, and it's going to be a great experience for me."
Childress averaged 11.8 points and 4.9 rebounds as the Hawks' top reserve last season.
Olympiakos finished runner-up in the Greek basketball league last year, behind rival Panathinaikos. It has boosted its roster with summer transfers - including Greece star Theodoros Papaloukas, who was signed from CSKA Moscow.
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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