From ESPN.com:

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.

The Schmooze: Another example of how the declining value of the American dollar continues to affect all parts of our society. Money aside though…this is a good move for Childress and could be the start of a trend. He will get paid, will have to play less games, will be on a good team, and can potentially be one of the best players in all of Europe. Just as importantly, Childress is mature enough to handle a move to a foreign country. Now I’m not sure if we will ever see players the level of say Kobe Bryant, Lebron James , etc. taking their games to Europe over lucrative NBA offers…but for players that are right around that “almost-but-not-quite All-Star” level, why not go play in Europe and be a big fish in a smaller pond? The money is good, the level of competition is high (not NBA level…but if you took some teams from Spain, Italy and Greece…they would win a ton of games playing against NBA teams), and you can gain some European culture. Not a bad deal if you ask me.

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Tags: basketball, Europe, Josh Childress, nba