NBAHome » Schedule » Stats » Standings » Josh Childress Has Opportunity To Succeed in Phoenix After Getting Rich in Greece by Evans Clinchy on Jul 24, 2010 10:49:14 AM 3retweetJosh Childress' hair is big.
His bank account is bigger.
Allow me to explain: In the summer of 2008, when the Afro-sporting small forward had played out the end of his NBA rookie-scale contract with the Atlanta Hawks and became a restricted free agent, he did everything he could to work a sign-and-trade and maneuver his way out of Georgia. He was young, he was restless and he was trapped on Mike Woodson's depth chart behind Joe Johnson and Marvin Williams. He wanted more shots, more money and more fame. He wanted out.
When he didn't get his wish in the NBA, he decided to flee the country and find something better overseas. Financially, at least, he found it.
On July 23, 2008, Childress signed a three-year deal for $20 million with Olympiacos Piraeus of the Euroleague. That alone was a whopper of a contract for a 25-year-old kid who had never held down a starting job, but it gets even better. Consider this: Olympiacos paid Childress' taxes in Greece and covered his agent fees as well. They bought him a house and a car. That $20 million was pure net income. Do the math -- 35 percent to the IRS, 3 to 5 percent for an agent, the house and car expenses, and that $20 million contract ends up looking more like $40 or $45 mil.
The contract also included opt-out clauses after Years 1 and 2, which brings us to today. Childress played two years in Greece for the powerhouse Olympiacos club that won the Greek Cup in 2010. He averaged 15.8 points and 5.4 rebounds while shooting a silly 58.6 percent from the field, in the process bolstering his resume for the future.
So now that he's got the fattening of his bank account out of the way, he can focus on winning.
Last week, news broke that Childress was headed to the Phoenix Suns, thanks to a five-year, $34 million contract with the Western Conference power. The Hawks, who still owned the rights to Childress by restricted free agency as they did two years ago, agreed to a sign-and-trade deal to ship him away. After agreeing to a six-year max contract with Johnson this summer, Atlanta had no money left to spend on Childress, happily consenting to send him packing in exchange for a 2012 second-round pick from Phoenix.
The Hawks maintain the stability that's gotten them into the playoffs three years running. The Suns pick up an explosive athlete with a chance to keep their franchise afloat.
Phoenix reached the Western Conference finals this spring, even tying the series 2-2 with L.A. before letting it slip away and watching the Lakers plow their way to another championship. But Amare Stoudemire has since left for the Big Apple, and the Suns' core of Steve Nash and Grant Hill is starting to fossilize.
For the Suns, Childress is a gateway to the future. Alongside Robin Lopez and Jared Dudley, Phoenix has the young talent to keep improving in 2010-11.
The Suns have also brought in Hedo Turkoglu, via a trade with the Raptors, and Hakim Warrick, through the Amare sign-and-trade. Talk about rebuilding on the fly -- last season, the Suns were in the West finals, and next year they could be there again with a completely different team.
For Childress, this is a chance to be a winner and a money-maker at the same time. He's now 27, and it's his time to shine.
In Atlanta, Josh Childress had a good situation -- he was a solid piece of a good, young team. In Phoenix, the future could be even better.
