Hawks' Josh Childress signs with Greek team

Heading overseas allows Childress to make more money than he could have as a restricted free agent in the United States. The Hawks had the right to match an offer from another NBA team, but not from an international club.

Agent Jim Tanner said Wednesday the three-year deal was worth about $20 million after taxes. The money is guaranteed, and Childress can opt out of the contract after each year.

"I've talked to a few guys, and it could become a trend," Childress said about other Americans following his lead. "It's different. We thought out of the box a little on this one."

The 6-foot-8, 210-pound guard/forward averaged 11.8 points and 4.9 rebounds as the Hawks' top reserve last season. He averaged 11.1 points and 5.6 rebounds in four years with Atlanta about being drafted sixth overall in 2004 out of Stanford.

Childress said he intended to re-sign with the Hawks, who made the playoffs for the first time since 1999 and pushed eventual champion Boston to seven games in the first round. But he felt the team didn't show a sense of urgency in making a deal, and he turned down an offer he considered too low.

Atlanta General Manager Rick Sund said that while he believes the Hawks made a proposal that was competitive within the NBA, it would have been fiscally irresponsible to try to match Olympiakos. Sund said the offer exceeded the salary cap's mid-level exception, which is more than $5.5 million, and would've have made Childress the team's fourth-highest paid player.

Olympiakos initiated the contact with Childress, said Lon Babby, another of his agents. With the strength of the Euro against the dollar, Babby believes international clubs now have the resources to pursue high-level American players -- and other restricted free agents may reciprocate the interest because it creates leverage they lack within the NBA.

"I think it's always going to happen when you get a player that's pretty solid over here and then they get offered more money, it's hard to pass up," Toronto Raptors star Chris Bosh said.

The Hawks would retain Childress' NBA rights, and he would remain a restricted free agent, if they make a qualifying offer each year, Babby said. That would count against their salary cap, though. If they don't, he'd become an unrestricted free agent.