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The article said that after two years, the Hawks lose their rights.
If he comes back after one year he has to pay taxes and the Hawks still own him. The article says that they have his rights for two years. He pays no taxes if he stays two years. Sounds like a two year deal, minimum.
The article said that after two years, the Hawks lose their rights.
Not sure what article you are reading, but he pays taxes no matter the number of years he plays.
Meaning, if he plays 3 years and tries to come back to the NBA, as long as each of those three years the Hawks tendered him the qualifying offer, his rights belong to the Hawks.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 an economic standpoint, how many players realistically can European teams pay like this? How is the revenue going to be generated to justify these payouts, especially when they're playing many fewer games? Is Josh Childress going to pack the house and allow them to raise ticket prices? Are they banking on eventually getting bigger TV contracts?
It's interesting and will definitely have ramifications, but I don't see how a giant wave of these can be supported.
This was from the original post article. Doesn't really matter. He has them over a barrel. After all, we own Splitter's rights, correct? Doesn't mean much if he's playing in Europe. Childress has the leverage to force a S&T to an NBA team on his short list.The Hawks retain Childress's NBA rights for at least two years, but they lose one of the league's best and most efficient sixth men without immediate compensation. The Hawks, per the rules of restricted free agency, had the right to match any competing offers from NBA teams.
The thing about the taxes was from one of the posters who is currently working out of country, not from the article. He said that if you work outside the US for a two year period, you're not taxed. I can't remember what page it's on.
somavabiotch!!! if this happens I will really be pissed off. Freaking Landry better stay.
HOUSTON -- The agent for restricted free agent forward Carl Landry told FOX 26 Sports Wednesday playing outside the NBA may become an option for his client.
Landry played his rookie year with the Houston Rockets during the 2007-2008 season.
The Atlanta Hawks lost restricted free agent guard Josh Childress to the Greek club Olympiakos Wednesday. Like Childress, Landry is a restricted free agent. The Hawks could match any offer Childress gets from an NBA club but that option doesn't exist for teams outside the NBA.
Landry and the Rockets are in a similar situation.
"Carl would entertain all serious offers," said Buddy Baker, Landry's agent. "There is serious interest in Carl by both other NBA teams and internationally."
Landry averaged 8.1 points and 4.9 rebounds a game during his first year in the NBA.
"Carl and his agent are doing what they think is best for him and if that includes exploring Europe that is their right to do that," said Daryl Morey, Houston Rockets General Manager.
"We continue to want Carl as a Rocket. We have a difference of opinion on the next steps to get him re-signed, but we have not changed our desire to see him return."
http://www.myfoxhouston.com/myfox/pa...Y&pageId=6.1.1
wow...the snowball is picking up speed as it rolls down hill
Im going to have to raise the BS flag on this. Ive lived abroad 8+ years and know this is not the case.
Now if you go to a combat zone (Iraq or Afganistan) the first 80k you make is tax free but you have to pay taxes after that.
Olympiacos CFP is a multisport club, much like CSKA and others, with quite a bit of money to throw around. These clubs are pulling revenues from all over the place as well as getting financial assistance from the government for incentives. Olympiacos is also owned by O Proedrosan, one of, if not THE richest man in Greece.
These clubs own soccer teams as well, that pay huge dollars to foreign stars...i guess they're just now starting to develop an interest to invest in [basketball] foreign stars...it also helps that this interest is obviously now mutual.
The first 80 K is tax free for any Americans working abroad whether or not they are in a war zone. But if the European clubs pay the taxes for the BBall player, I guess they don't have to worry about it. It's like that FICA tax you see on your W2's. There's a withholding for that amount that the company takes out of your paycheck to pay the IRS. So I guess if the Club over there wanted to pay that tax for you, then what the heck? There are tax treaties between countries. The point is, part of your income might go to the US, and part might go to the foreign country because you live there, produce goods for that country, and enjoy the services of that country. The taxes are written so that you don't get double taxed once in the foreign country and again in the USA...how stupid would that be?
Landry..damn! I hope they are just using the European ploy as leverage to get the full MLE from the Rockets. But I have the feeling that if Landry gets the full MLE we are going to say goodbye to Deke
So are these guys just writing off losses on hoops, or do the basketball teams make money on their own? Would one of them, say, seriously make a run at LeBron in 2010?
If Lebron or Kobe leaves the Euroleague it would be equivalent to Rick Barry leaving the NBA back in the day to join the fledgling ABA.
Wheres Kill Bill to correct us that it was actually a 3 year $120 million deal.
NBA Forum
It's all about an investment. Childress might not bring home huge bucks, and sure they may take a loss, but does that move make other NBA players see this as a possibility? More than likely, yes. Basketball makes money, as does soccer, as does volleyball, as does what ever one of the 12 or so teams that are a part of this club, so maybe they see basketball as something they would like to start investing big money in.
Keep in mind that int. soccer stars are making what NBA stars make. To lure Raul away from Real Madrid, Olympiacos ended up paying a around $17 mill for 4 years (keep in mind that soccer rosters can be double what NBA rosters are - more big money to more guys). They definitely have the money, it's just about whether or not to invest, and especially mutual interest.
Why wouldn't an int. club make a run at a Lebron type of player? It's all about what the NBA players are willing to do for the $...or the €.
It's basically what the Galaxy did to get David Beckham. I mean lets get real. USA Soccer sucks compared to European Soccer. But he got big bucks and came over here to play. Same situation in reverse to go over there to play.
Europe offers more than vacation to NBA players
By Adrian Wojnarowski, Yahoo! Sports
LAS VEGAS – The prospects of an NBA superstar making a leap of faith and fortune to the burgeoning European basketball market isn’t close, but it no longer seems such an outrageous possibility. As models for the perfect pioneer go, Jason Kidd does believe that his talents at 35 years old are suited to the Euro game, where size, strength and smarts are a tonic for declining speed and explosiveness.
Yes, Kidd is relentlessly committed to chasing an NBA le with Dirk Nowitzki and the Dallas Mavericks. Still, nothing is forever for him at 35. When delivered a premise about the possibility of someday following the Atlanta Hawks’ Josh Childress to Europe, Kidd confessed that no longer is it possible to consider your future in a context limited to the NBA.
“In the next four or five years, could I end up playing over there?” Kidd wondered. “Hey, why wouldn’t I play in Italy or somewhere (else)? That might be a great experience.
“It’s a legitimate option now with Childress going over there.”
As he prepares for the Beijing Olympics with Team USA, Kidd is under contract with Dallas through next season. He has his eyes on an extension past 2008-09, but who knows anymore?
“Why not?” Kidd said. “We saw the Euro players coming here, and now it’s kind of flip-flopping.”
Through the years, a lot of terrific NBA players left for Europe in the twilight of their careers. Some rookies used it as leverage in contract disputes. Even a high school player, Brandon Jennings, signed with Virtus Roma this month. Now, the next step has come with a young American-born NBA sixth man, Childress, choosing Olympiakos of Greece for three years and $20 million. He passed on a comparable contract with the Atlanta Hawks, as much of a statement on the growing worth of European franchises as it was an indictment of a shoddy Atlanta operation.
Make no mistake: A threshold has been crossed in the sport. Suddenly, Europe is evolving into a true rival in free agency.
Childress is no superstar, but he was a desired restricted free agent in the NBA. As the American dollar shrinks to the Euro and European operations increase in prestige and resources, so starts the irreversible wave of change.
“David Stern and the NBA have been promoting the globalization of the sport for years,” agent Lon Babby said by phone on Wednesday. “It’s only natural it would begin to flow both ways. It’s something players and agents now have to look at.”
Babby represents Childress, and never hesitated to push his client toward the favorable financial arrangements of the Euroleague. Some insist this is such a risky move for a young NBA player, but is it that much more of a gamble to leave one of these forsaken NBA franchises with such horrible ownership, such suspect direction and commitment?
When Billy Knight resigned as Hawks GM this spring, ownership was unprepared to conduct a search. Atlanta floundered around, unsure of whom to recruit, who should be on their list. One owner called Sacramento’s GM Geoff Petrie, and Petrie quickly rejected them.
Atlanta should have made well-regarded Cleveland assistant GM Chris Grant a more credible offer, but it was determined to do everything on the cheap. In the end, the Hawks hired unemployed journeyman Rick Sund. Give Sund this: The opening salvo on his watch – losing Childress to Greece – is a disaster for the Hawks.
As long as franchises like Atlanta and Memphis have such poor ownership, such little commitment and competency, no one should be surprised that players like Childress and Juan Carlos Navarro, who recently signed a reported five-year, $20 million contract with FC Barcelona, will find Europe a suitable destination.
So, how long until those rich franchises in Russia, Spain and Greece are players for the biggest stars in the sport?
Well, Miami’s Dwyane Wade laughed as he delivered a baseline bid to leave the NBA in the summer of 2010. “Thirty million a season, non-taxable?” Wade said. “I might have to think about it.”
The NBA’s salary cap and the declining American dollar leaves open the possibility that a European team eventually will be able to make the kind of Monopoly money bid to lure one of the NBA’s superstars. It won’t be this year. Nor next. The summer of 2010, when Wade, LeBron James and Chris Bosh could be available, is too soon also. What if Europe decides that it doesn’t need to pay outlandish entrance fees to get teams in Stern’s league and it figures out a way to pool its resources to make itself more of a compe or?
However it goes, there will be a better and better parade of players leaving the NBA for Europe, and better Euros who never feel the need to come here.
“With the money being said that guys can get over there, it’s unbelievable,” Wade said. Not only do you have international players coming to America, you’ve got American players going international. And you’ve got big-time players doing it now. It’s interesting.
“If they offer me $40 million a year and no taxes, I might have to go over there. I’ll have to see you guys later.”
For now, Dwyane Wade was laughing. For how long, though?
So the largest contract in Euroleague history is 3 years, $30 million? And it went to Josh Childress?
Oh no.
It doesn't matter how long he stays.
can anyone confirm this but didnt this team first offer that same deal to loul deng and got shot down so they went to childress. if this had been deng wow the nba would be in trouble
Deng has two weeks to get his contract straight. KillBill said that Pana has made an offer to Luol Deng. Anything is possible at this point.
And Wojnarowski prove that he can't do basic math. See the analysis of the contract I did earlier. What Olympiakos offered is close to an NBA max contract for 3 years...
Don´t worry, it is just a beginning. Did any of NBA teams ever paid 50-70mio Euros to another club just to get rights for ONE player? Look at the offers for players in soccer Euroleague. I know there is not (jet) the same amount of money invested in basketball, but owners of European clubs have money. A lot of it actually. It is just a matter of time and progress of Euroleague and you will see some NBA superstars packing their bags for "vacation" in Europe.
I think its great for European basketball, for the players.. maybe the NBA feels threatened but I see this move being positive all around. So what if top US player go to Europe.. just fine with me. It will allow oppotunities for new stars to be discovered. It will raise the standard of European compe ion. Everyone should welcome this.
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