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Translated article:

According to Turkish media, Olympiakos had offered 8 million for two years to Hedo Turkoglu.

The wing of the Magic announced yesterday to leave the contract with Orlando, which for next year would have earned 7.6 million dollars, to discuss the agreement at the higher figures, around 10 million.

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€8 million euros net is like $22 million in the NBA. So it's an $11 million per season offer, that is in the NBA you would have to make $11 million per season to equal what is being offered by Olympiacos.

From the article:

Secondo i media turchi, l'Olympiacos avrebbe formulato un'offerta da 8 milioni di euro per due anni a Hedo Turkoglu.

I've been told there was no mention to this in the Turkish media, maybe some Turkish posters can confirm this (anyway, at some point a Turkish site will pick up this news, if they didn't do it already, and it will become true... this kind of rumours are self-fulfilling prophecies).

KWSN-Men wrote:€8 million euros net is like $22 million in the NBA. So it's an $11 million per season offer, that is in the NBA you would have to make $11 million per season to equal what is being offered by Olympiacos.

I was assuming everyone knew that the figures were in Euros net tax

HA! wrote:

KWSN-Men wrote:€8 million euros net is like $22 million in the NBA. So it's an $11 million per season offer, that is in the NBA you would have to make $11 million per season to equal what is being offered by Olympiacos.

I was assuming everyone knew that the figures were in Euros net tax

Well some NBA fans are unaware of that it seems. Just look back at the threads when Childress signed. "Why does he take $20 million from Olympiacos, then the Hawks offered $33 million?", numerous posts like that. Also NBA fans seem to have a confusion about some sort of magical tax issue.

The contracts are net. It just means you keep the amount listed, the government and your agent doesn't get money out of it because it is already paid, because they are listing a net amount. NBA contracts are of course gross and the agents fees and taxes come out of it. There seems to be some reason why some NBA fans can't understand that.

It's pretty simple to understand that, but it seems some people can't. They start arguing incessantly that "players pay taxes no matter where they play" and things like that. Look at threads when a player signs in Europe. There are always a bunch of posts about US tax laws. When it is not even a pertinent issue because it just means net salary, yet sadly so many people just can't seem to grasp it.

"According to Turkish media"

I read 2-3 newspapers a day, and check the sports sites frequently, but never saw such a rumor. Also, anything is more credible than our media.

Hedo will stay in ORL, don't worry. He will earn something like 50 millions/5 seasons.
Why to leave ORL (they will sign him for next 4-5 seasons) if Oly or other Euroleague club is eventually willing to offer shorter contract (2 years)? And money is similar/equal... Makes no sense for him.


"According to greek media, NBA finalist Hedo Turkoglu spoke to greek radio station Sentra 103.3FM regarding the rumors about him and the team of Olympiakos. Turkoglu denied the rumors about an offer from Olympiakos saying that he or his agent have not spoken to anyone from Olympiakos.
However he said that if there was an offer from Olympiakos then he would definitely consider it but until then there is nothing really on the table. "

Jugoplastika89-90-91 wrote:Hedo will stay in ORL, don't worry. He will earn something like 50 millions/5 seasons.
Why to leave ORL (they will sign him for next 4-5 seasons) if Oly or other Euroleague club is eventually willing to offer shorter contract (2 years)? And money is similar/equal... Makes no sense for him.


"According to greek media, NBA finalist Hedo Turkoglu spoke to greek radio station Sentra 103.3FM regarding the rumors about him and the team of Olympiakos. Turkoglu denied the rumors about an offer from Olympiakos saying that he or his agent have not spoken to anyone from Olympiakos.
However he said that if there was an offer from Olympiakos then he would definitely consider it but until then there is nothing really on the table. "

It makes perfect sense, because obviously if they did offer him a contract it would have been much more than the number reported.