In what is a major blow to the Atlanta Hawks and the NBA, Josh Childress has agreed to terms with Greek powerhouse Olympiakos.
Former Hawks swingman Josh Childress has signed with Olympiakos of Greece, a three-year, fully guaranteed contract worth far more than the $20 million initially believed to be his prize.
Could there be a more stunning turns of events for fans who thought Childress was destined to remain in a Hawks’ uniform for at least the next four or five years?
It’s a groundbreaking move for all sorts of reasons, none of them terribly thrilling for the Hawks and their tattered reputation.
Childress is one of the most productive small forwards in the game, and his departure is a bad sign for the league. First and foremost, the NBA needs his talent.
But on a macro level, it makes the restricted free agency system look outdated and ridiculous. NBA teams are reluctant to sign other team’s restricted free agents because they know the player’s current team is likely to match the offer. They’d rather wait a year and make a run at the player when he becomes an unrestricted free agent. But, in this case, the Hawks can’t match Olympiakos’ offer, so Childress is gone, at least for a season.
Given the new landscape of global basketball (and the seemingly nonstop drop of the U.S. Dollar), the league should do away with restricted free agency altogether.
