Olympiakos offered three years and $32.5 million, which after taxes paid by the club becomes a net of salary of about $6.7 million a year for Childress.Next, the perks:
The Hawks offered five years and $33 million, which after taxes paid by Childress becomes a net salary of about $3.4 million per year for Childress.
Olympiakos also pays for all of Childress' living expenses, including luxury accommodations, a car and driver and maid service.Then, the opt-out clause:
Childress also has an annual opt-out clause in the contract that will allow him to weigh his NBA options, as a restricted free agent provided the Hawks tender a qualifying offer to him, every summer.About that qualifying offer:
By retaining Childress' NBA rights there are salary-cap implications the Hawks have to contend with where he is concerned. Since his qualifying for the upcoming season was just $4.8 million, the Hawks don't even have the full mid-level exception to work with in finding his replacement.I haven't yet learned whether or not the dollar figure of the qualifying offer changes from year to year.
Finally, the contract with Olympiakos does not include a buyout clause:
There is no buyout clause in the contract, meaning Childress won't have to negotiate a compensation package for Olympiakos if he were to return to the NBA before the end of the three year deal.My guess is that the Hawks find a way screw up the paperwork necessary to submitting a valid qualifying offer for Childress at some point in the next two years and forfeit his rights completely.