Olympiakos has plucked another young NBA player in his prime. Denver’s Linas Kleiza is headed to Greece.

Per Yahoo Sports…

Denver Nuggets restricted free-agent forward Linas Kleiza(notes) has agreed to a two-year, $12.2 million contract with Greek team Olympiakos, his agent Bill Duffy told Yahoo! Sports on Monday.

The contract has an opt-out clause, which allows Kleiza to again become a restricted free agent next summer.

Duffy said that while Kleiza attracted interest from other NBA teams, his client’s restricted free-agency status limited his options.

I’ve said it before and I’ll say it again — the NBA needs to do away with restricted free agency. Most RFAs are left in limbo for a year, and instead of playing the season for peanuts, guys like Josh Childress and Linas Kleiza are bolting for Europe. If they were unrestricted, they would have probably stayed in the NBA.

- The Clippers are interested in signing Allen Iverson, and if he’s interested in a big market where he can rehab his image, this might be the place. It looks like Miami isn’t willing to offer much money, but if cash is more important than playoff potential, then the Clips are a good fit.

- According to GM Mitch Kupchak, Lamar Odom and the Lakers aren’t on the same page. The team has offered $8 million per season but Odom wants $10 million, and the contract’s length may be an issue too. Dallas, Miami, Phoenix and Portland (if the Jazz match their offer for Paul Millsap) have emerged as possible landing spots for Odom. He doesn’t have much leverage if the Blazers aren’t interested. The other three teams would have to work out a trade and it would take a good player (Josh Howard, Michael Beasley, etc.) to get the Lakers to bite.

- The Jazz have until February to move Carlos Boozer before the luxury tax implications of keeping both Boozer and Paul Millsap kick in. Right now, it looks like the Jazz are planning to match, even if they have to take out a loan to pay Millsap the huge signing bonus that is a part of his deal with the Blazers. If the Jazz do match, it will be interesting to see if the Blazers have a Plan C after missing out on Hedo Turkoglu and Millsap.

- After a brief flirtation with the Bucks and the Bobcats, Josh Childress is heading back to Greece. The Hawks still hold his rights, and his camp was unable to work out a sign-and-trade with Milwaukee or Charlotte, so Childress’s best option was to play for Olympiakos for another season.

- Brandon Roy wants a fifth year option, but the Blazers have only offered four years. It’s not clear what the Blazers are worried about; I’d want to lock him up for as long as possible.

Yesterday, I ranked the top unrestricted free agents of 2009, but now it’s time to look at this summer’s crop of restricted free agents (RFA). Teams can sign an RFA to an offer sheet, then his team has seven days to match that offer to retain him. If the player doesn’t sign an offer sheet and can’t come to terms on a new contract with his current team, then he will play for a year for the qualifying offer and then become an unrestricted free agent the following summer.

For each player, I’ll provide his position, age, Player Efficiency Rating (PER) and an estimate of what kind of contract he’s likely to sign. They’re ranked in order of total value, which is based on overall talent, age, injury history and cost.

1. Paul Millsap, PF (24)
PER: 18.71
In his third year, this former second round pick had the best season of his career. He averaged 13.5 points and 8.6 rebounds, while shooting better than 53% from the field. While Carlos Boozer was out in December and January, the Jazz got a preview of what this kid can do when he gets starter’s minutes. He was a 17/11 guy during those two months, but the Jazz only went 11-13 in games in which Millsap played during that span. His camp expects a deal similar to the one David Lee is asking for, so something in the $10 million per season range. Is he worth it? Probably. And from the sound of it, the Jazz plan on offering him a deal that will keep him from testing the market. If he does explore his options, it may pay off as the Thunder and Pistons are rumored to have interest.
Value: $9.5 – $10.5 million per year

2. David Lee, PF (26)
PER: 19.07
GM Donnie Walsh said that the Knicks’ picking Jordan Hill in this year’s draft has nothing to do with Lee, but the two play the same position, so of course it’s going to have an effect on how the Knicks and Lee each view their relationship. The other issue is that two of the Knicks’ targets in 2010 are Chris Bosh and Amare Stoudemire might also play the same position as Lee, though Mike D’Antoni would likely play either at center, allowing Lee to play power forward. He gets most of his points off the glass, so he’d be a good fit with either of those guys. The Knicks are projected to have about $35 million in cap space heading into the summer of 2010 and whatever deal they sign Lee to will cut into that. If they want to keep Lee and sign two big-name free agents, then they’re going to have to rid themselves of either Jared Jeffries or Eddy Curry prior to 2010. I like Lee, but he’s not a guy that you can give the ball to on the block and expect him to score, and that limits his value somewhat as a big man. The Thunder, Kings, Grizzlies, Raptors and Pistons could all make a serious run at Lee, though anytime a team tries to poach a restricted free agent, it’s a delicate balance between offering him enough to convince the other team to let him go, while getting a reasonable deal at the same time.
Value: $9.0 – $10.0 million per year.

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The NBA free agency period starts July 1st, and as that date approaches I’ll preview this year’s free agent class in more detail. But for now, I’d like to take a look at which teams have the cap flexibility to be major players in free agency this summer. (Mind you, just because a team has cap space, it doesn’t necessarily mean that they’ll use it. Just sayin’.)

Not familiar with the NBA salary cap? Here’s a quick primer…

1. The cap for the 2008-09 season was $58.7 million. The general consensus is that the cap will stay flat or decrease slightly. We’ll assume it sticks at $58.7 million.

2. If a team is over the cap, the only free agents they can sign are their own, unless they elect to sign a player to the mid-level exception (~$5.8 million per season), the bi-annual exception (~$2.0) or to a minimum contract. (The bi-annual exception may not be used in two consecutive years.)

3. If a team is under the cap, they can sign any free agent they want as long as they do not exceed the cap. They can also take on salary via trade up to the cap, so a team like the Grizzlies (with almost $20 million in cap space) could conceivably trade their first round pick to the Suns for Amare Stoudemire or to the Raptors for Chris Bosh.

Here’s a list of the bigger names in the free agent pool this summer:

Unrestricted: Carlos Boozer, Ben Gordon, Ron Artest, Lamar Odom, Andre Miller, Shawn Marion, Jason Kidd, Hedo Turkoglu, Allen Iverson, Mehmet Okur, Rasheed Wallace, Mike Bibby, Anderson Varejao, Grant Hill, Kyle Korver, Trevor Ariza, Brandon Bass, Chris Andersen, Zaza Pachulia, Chris Wilcox and Drew Gooden

Restricted: David Lee, Paul Millsap, Ray Felton, Josh Childress*, Marvin Williams, Glen Davis, Ramon Sessions, Charlie Villanueva, Nate Robinson, Leon Powe, Hakim Warrick, Linas Kleiza, Jarrett Jack and Shannon Brown

* It appears that if Childress does return to the NBA, the Hawks still hold his rights, so he would be a restricted free agent.

There are eight teams that project to have more than $5.8 million (the value of the mid-level exception) in cap space this summer:

Memphis Grizzlies
Projected Cap Space: $19.7 million
Memphis has been reluctant to spend for several years now and is probably one of the franchises that’s struggling the most in the current economy. I lived in Memphis for three years, and given its small size and overall lack of wealth, I always thought that it would struggle to support a professional sports team. With a core of Rudy Gay, O.J. Mayo and Marc Gasol, the Grizzlies have to feel pretty good about what they have at off guard, small forward and center. The big decision this summer is what to do with restricted free agent Hakim Warrick. When dealing with bad teams, numbers can be deceptive, because no matter what, somebody has to score and rebound, right? Warrick’s PER (16.91) is #24 amongst power forwards, so ideally he’d be coming off the bench for a playoff team. The Grizzlies projected cap space assumes they make the qualifying offer to Warrick ($3.0 million). Memphis is one of those teams that could really use the services of a Carlos Boozer, David Lee or Paul Millsap, but in this economy, are the Grizzlies willing to make that kind of a commitment? They could try to make a run at Chris Bosh or Amare Stoudemire next summer, but the odds are long that either guy would want to play for the Grizzlies.

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With the trade deadline in the rear view mirror and players tied to their current teams at least until the summer, it’s a good time to take a look ahead at the free agent class of 2009. Given the state of the economy and how so many teams are saving up for the class of 2010, some are suggesting that this summer’s free agency could be a “nuclear winter” of sorts, no pun intended. The salary cap and luxury tax thresholds are likely to decline for the first time in years and that has GMs and owners around the league scrambling to cut salary where they can.

There are three types of free agents: players with early termination options (ETO) or player options (PO), restricted free agents and unrestricted free agents.

Players with ETOs or POs

This group includes Kobe Bryant, Jermaine O’Neal, Al Harrington, Jamal Crawford and Mehmet Okur, but it’s highly unlikely that any of these guys will hit the open market given the kind of money they’ll be making by extending their respective contracts. Of this group, Hedo Turkoglu, Anderson Varejao and maybe Carlos Boozer are the only big names that are likely to hit free agency. Boozer has already stated that he’s going to opt out, but he may decide against it if he doesn’t come back strong from his injuries. Turkoglu — the reigning Most Improved Player — is having another nice season, but he’s not playing quite as well as last year. Still, he can command more than the $7.3 million he’s due to make next season. Varejao could stay with the Cavs and make $6.2 million next season, but he and his agent (Dan Fegan) have been looking for more. Varejao wants a long term deal but it seems he and the Cavs disagree on how much he’s actually worth.

For the most part, guys in this group are going to be conservative and play out their contracts.

It’s early in the NBA season, but these four things have jumped out at me during the first week of action.

1. The Lakers are dominating, but Lamar Odom isn’t thriving off the bench.
The Los Angeles Lakers are 4-0 and have won those four games by an average of 20.8 points. Granted, they’ve already played the Clippers twice, but the Nuggets gave them a test in Denver. The Lakers are doing it with defense, holding opponents to just 39.3% shooting and 85.0 points per game. (The Lakers are second in the league in both categories.) The team is off to a quick start despite so-so play from Andrew Bynum (8.3 points and 9.3 rebounds) and Lamar Odom (10.0 points and 6.5 rebounds), who isn’t exactly tearing it up off the bench. His numbers are boosted by a pretty nice 15-point, nine-rebound effort against the Clippers last night. Those are kind of numbers that Odom should be posting on a regular basis. The Lakers are getting nice play from Trevor Ariza, who has produced 9.8 points and 4.3 rebounds in just 20.5 minutes of play. If he continues his deft shooting from long range (71%), it won’t be long before he cracks the starting lineup. One of the underlying strategies heading into the season was to cut back on Kobe’s minutes, and thus far the plan has worked. He averaged 38.9 last season and is only playing 33.3 this season. His minutes are likely to rise as the Lakers play in more close games, but right now Phil Jackson has to be feeling pretty good about how his team has started.

2. The Bucks are finally playing some defense.
Last season, Milwaukee was last in the league in defensive field goal percentage (48.0%), but through five games, they’re holding opponents to 44.2% shooting, which is #14 in the league. New head coach Scott Skiles demands a lot from his players on that end of the court and so far the Bucks are responding with increased effort. The addition of Richard Jefferson certainly helps defensively, but he’s also getting it done on the other end of the court. RJ is averaging 18.8 points, 5.8 rebounds and 4.4 assists per game, even though he’s only shooting 41% from the field. Without Michael Redd in the lineup, Jefferson had a great 32-point, nine-assist effort in a 112-104 overtime win against the Wizards Wednesday night. The Bucks are also getting great play from a couple of unexpected sources. Second-year point guard Ramon Sessions turned a few heads last year when he averaged 12.9 points and 12.4 assists (including a franchise record 24 dimes against the Bulls) over the last eight games of the season. The Mo Williams trade that brought Luke Ridnour to team looked more like a salary dump than a personnel move, but maybe the Bucks decided they had their point guard of the future in Sessions, who is averaging 17.3 points and 8.3 assists on the year. Second round pick Luc Mbah a Moute has outplayed first round pick Joe Alexander thus far. Skiles likes Mbah a Moute’s great defense and toughness, which he learned playing in Ben Howland’s system at UCLA for three years. He’s playing 25.2 minutes and is averaging 8.6 points and 5.0 rebounds per game. The Bucks are 3-2, but have a rough eight-game stretch ahead of them that features the Celtics (twice), Suns, Cavs, Spurs, Nuggets and Jazz. If they can come through that gauntlet close to .500, we’ll know that the Bucks’ improvement is for real.

3. The Spurs were thisclose to starting 0-4.
If not for last night’s 55-point, 10-assist, seven-rebound effort by Tony Parker that helped the Spurs survive a double-overtime scare against the Timberwolves, San Antonio would be looking at an 0-4 start. They lost to the Suns at home by five and to the Blazers by one in Portland, but it was the 98-81 loss to the Mavs at home that was really surprising. The Spurs’ problem is two-fold. Collectively, they’re getting older and they miss Manu Ginobili. Parker (33.3 points, 7.3 assists) and Tim Duncan (27.0 points, 11.8 rebounds) are doing all they can to keep the Spurs in games, but they aren’t getting much help from their supporting cast, specifically Michael Finley (33% FG%) and Kurt Thomas (14% FG%). The Spurs are getting good play from fifth-year guard Roger Mason, who is averaging 15.8 points per game on 60.5% shooting. He’s been extremely hot from downtown, knocking down 64% of this three-point shots. Right now, it’s a three-man show and that’s it; no other Spur is averaging more than 7.5 points per game. The schedule gets a little easier over the next two weeks, with winnable games against the Heat, Knicks, Bucks, Kings and Clippers. San Antonio should be back above .500 before too long.

4. Atlanta is off to a fast start.
In my 2008 NBA Preview, I had the Hawks ranked #20 to start the season. After a 3-0 start, they should definitely be in the top half, maybe even in the top ten. I thought the loss of Josh Childress and the steady decline of Mike Bibby would outweigh whatever improvements this young team could make, but they have proven me wrong. The Hawks’ three wins are impressive. They beat Orlando by 14 points on the road, beat Philly at home by seven and then beat the Hornets in New Orleans by eight. Joe Johnson has led the team in scoring in all three games, and is averaging 28.0 points, 5.7 rebounds and 3.7 assists on the year. Even more impressive, the Hawks have won despite poor shooting from Josh Smith (42%), Mike Bibby (34%) and Marvin Williams (39%). If Johnson is able to keep up this level of play, the Hawks shouldn’t have a problem making the playoffs for the second consecutive year. Long-term, I like the direction this franchise is headed, but they still need to find their point guard of the future. Mike Bibby is on the decline and Acie Law hasn’t done much in his young career to indicate that he’s the guy they should lean on. The Hawks will have plenty of cap space over the next couple of seasons, so they should be planning to find a point guard that can complement Johnson and forward/center Al Horford.

Josh Childress raised a lot of eyebrows by signing a contract to play in Greece this season instead of staying with the Atlanta Hawks as a restricted free agent. He sits down with Mark Schwarz of ESPN’s “Outside the Lines” to talk about his experience thus far in Greece.

He also showed Schwarz his condo (which the team paid for) and drove him around town…

Since European teams have no salary cap, they aren’t bound by the same restrictions as NBA teams. Owners are willing to lose money on their team in order to win, so they are willing to pony up big bucks for quality NBA players like Childress. Playing for Europe isn’t for everyone, but Childress is something of a trailblazer for pulling the trigger on the move.

However, it sounds like he’ll return to the NBA after this season if he gets a good offer, which is likely. Childress’ contract is structured so that he can leave Greece after this season.

The entire column is a good read.

Offseason Movement: The Hawks screwed the pooch when they failed to sign Josh Childress to a long-term deal. They didn’t think he had any leverage since he was a restricted free agent, but he had the cojones to sign a deal with a Greek team instead of signing a one-year tender with the Hawks. Childress is the biggest talent to leave the NBA to play overseas in the prime of the career, and the Hawks will forever be known as the team that let him go. They replaced Childress with…wait for it…Maurice Evans.
Keep Your Eye On: Marvin Williams
Thus far, the former #2 overall pick has been decidedly average – he ranks 29th amongst all small forwards in PER. The good news is that he’s just 22 and entering the final year of his rookie contract. His qualifying offer next year ($7.3 milllion) is big enough that the Hawks could conceivably pass if he doesn’t show substantial improvement this season. The team usually went with Childress at small forward in crunch time, but now those minutes should belong to Williams, and he needs to make he most of them.
The Big Question: Which direction is this team headed?
The Hawks were a surprise playoff team last season and they took the NBA champs to seven games in the first round. But Mike Bibby is a year older (and a year slower) and they lost utility-man Josh Childress. I thought it was a mistake to trade for Bibby, and now he’s in the final year of his contract ($15.2 million), which means he might become a distraction as the season wears on. If they elect to let him play out his deal, the team will have a load of cap room next summer, so it looks like the Hawks could take a step back before taking another step forward.
Outlook: The long-term outlook is bright. The Hawks have Josh Smith (5 years) and Al Horford (4 years) locked up for the foreseeable future. Joe Johnson is under contract for two more years, but the Hawks have enough salary cap flexibility to make a splash in the next year or two for a star free agent. Until then, they’ll have to settle for the chance to fight for a playoff spot in the mediocre East.

SportsByBrooks has a post about the Greek franchise Olympiacos (who recently poached Josh Childress from the Hawks) and how they want to sign Kobe to a big deal.

Guess what? It appears that Olympiacos is, in fact, serious, as reports are surfacing that the club is preparing an offer for Kobe Bryant. We’re talking 60 million Euro (about $83 million right now) over 3 years. THE HOOP has more details on the perks of the contract, and they are pretty damned nice:

In that contract there will be an incredible list of benefits, a villa in the Mediterranean Sea, pay all the taxes at the expense of the club, to pay the bills for the staff and for a private boat for Kobe Bryant. The article also says that they are planning to form Olympiakos into an NBA style club with a court that fits 15-20 thousand seats and a private jet for the team.

This is an interesting story, no doubt, but I don’t think Kobe is going anywhere. He wants to win a ring without Shaq and he’ll keep trying until he retires.

Besides, if the US Dollar EVER gains back its strength against the Euro, there is no way that these European clubs will be able to offer up enough scratch to get a star to make the jump.