Childress signs with Olympiakos

[Glenn]

Diabolical Scheme for a Deep-Pocketed Owner

July 24, 2008 3:33 PM

Josh Childress's new deal has my e-mail inbox going crazy with all kinds of new thoughts about, essentially, the globalization of the market for NBA-level players.

I just updated an earlier post with some very interesting news about player transfers, including the news that in at least one instance in the past, an NBA team made a trade with a European team. Really.

And then, consider this from the fiendishly clever mind of TrueHoop reader Ben:

After reading about Childress going to Greece, it occurred to me that an ambitious owner could reap some serious benefits from owning both an NBA team and a profitable Euro team. [Note: I think most European teams are not profitable in and of themselves, but may serve some larger purpose like promoting the other work of their corporate parents, spreading goodwill etc.]

With regard to the Childress situation, an owner who needs that type of player but who is unable to free up enough cap space to sign him could have theoretically locked him up for the next three years, and then when cap space, roster room, etc. was available, brought Childress back to the NBA. ... Owning a Euro franchise seems like it could give a team some major advantages in these types of situations, not to mention the bonus of being able to use it as a farm team.

It's probably a very expensive proposition. But it comes without all the restrictions of a D-League squad.

Another idea that occurs to me: Nike or Adidas could do the same thing. Those companies want to make big impressions on young athletes. What could be better than giving them a nice job and some elite training on their elite European team right out of high school? Then they can send them off to the NBA when they are ready to be famous.

[Glenn]

Childress' "cap hold" remains on their books until they renounce him - to the tune of $10.9 million.

Wow, I haven't seen this reported anywhere yet. I hadn't even considered that aspect, that's a killer.