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? Atlanta Journal-Constitution
"It's official, I just signed," Childress said by phone Wednesday morning from Athens, where he and agent Jim Tanner will be until Friday. "I think it was . . . a situation where I didn't know who to expect coming in, coming over to Athens. But it's a great city and a great organization. They do whatever they can to make you feel at home." Atlanta Journal-Constitution
The deal is the most lucrative current contract in European basketball and the biggest in Euroleague history. It's also another step in the globalization of the game, a trend that got a huge boost recently when the top-rated U.S. high school player, California native Brandon Jennings, opted for a contract with an Italian team over playing at Arizona. Atlanta Journal-Constitution
Childress representatives and Hawks officials negotiated for weeks on a contract extension but could never come close to agreeing to terms. The Hawks offered Childress a five-year deal with a starting salary in excess of the mid-level exception of $5.5 million. But Childress, 25, spurned the Hawks' $33 million offer for a more lucrative deal with Olympiakos. Atlanta Journal-Constitution
With no salary cap for European teams, Olympiakos could offer whatever they wanted to entice Childress to leave the NBA for the international game. Childress will, however, have the option of opting out his contract with Olympiakos at the end of each season, which gives Childress maximum flexibility were he to choose to return to the NBA after this season. Atlanta Journal-Constitution
The Hawks are also in negotiations with their other restricted free agent, Josh Smith. The Hawks retain Childress's NBA rights for at least two years, but they lose one of the league's best and most efficient sixth men without immediate compensation. The Hawks, per the rules of restricted free agency, had the right to match any competing offers from NBA teams. Atlanta Journal-Constitution
Losing Childress this way, if it does indeed happen, is a third round TKO for the Hawks, who had their chances to lock Childress up long-term with a legitimate contract extension and never did. What constitutes legitimate, however, is where everyone seems to have shifting opinions. It might not matter by lunchtime, though, because Childress might be a member of a different team by then. Atlanta Journal-Constitution
They (ESPN.com) reported that Josh Smith has been extended a six-year, $60 million offer from the Hawks. But spies in both camps confirm that this is absolutely, 100 percent NOT true. In fact, Smith has never been formally offered a cent over $9 million from the Hawks. They've only had discussions about where things might go but there's never been a formal offer at that rate. Atlanta Journal-Constitution
As we reported earlier, the Hawks did extend an offer to Childress with a starting salary in excess of the NBA's $5.5 million mid-level exception. But that was only after yanking a more lucrative offer off the table, according to one of my best spies, when Childress didn't immediately accept the initial offer. Atlanta Journal-Constitution
As Team USA's practice ended, LeBron James reclined on a table with trainers tending to his sprained right ankle. A horde of television cameramen surrounded James, and the trainers before team officials shooed them away. The Americans described the injury as minor. It occurred Tuesday when James landed on Kevin Durant's foot during a closed scrimmage between Team USA and a select squad of young NBA players at Valley High School. Denver Post
Marcus Camby still can't believe what went down. The Los Angeles Clippers acquired Camby, the NBA's leading shot-blocker the past three seasons, from the Nuggets a week ago Tuesday for the option to exchange second-round picks with the Clippers in 2010. "When I heard of the trade, I said, 'Who did Denver get in return?' " Camby said Monday at an introductory news conference for the Clippers. Denver Post
"I thought the way (the Nuggets) went about it was classless," Camby said. "I thought it could have gone down a whole lot better." Denver Post
The Pistons have agreed to two-year contracts with free agent Will Bynum and second-round draft pick Walter Sharpe, representatives for the players said Tuesday. Mark Bartelstein, Bynum's agent, said he expects the point guard to sign today. Bartelstein added that the deal gives Bynum about $700,000 guaranteed the first year, before a second-year team option. Detroit News
But the Warriors allayed that concern Tuesday, acquiring Marcus Williams from New Jersey for a conditional first-round draft pick. The pick is lottery protected for 2011, so the Nets get it if the Warriors are in the playoffs. If it goes to 2012, the pick is protected 1-11. It's protected 1-10 for 2013. If it is not conveyed by 2013, the Nets get second-round picks in 2013 and 2015. Williams became expendable when the Nets acquired Devin Harris from Dallas in February and Keyon Dooling from Orlando on Monday. Bay Area News Group
Sure enough, a second source close to the Pistons has indicated that Pistons are pondering a trade for Ron Artest. I'm not sure of the opinions of the Pistons powers-that-be - namely team president Joe Dumars and owner Bill Davidson - but it says plenty that the chatter surrounding the mere idea is spreading around them. And Dumars, for the record, may be glad this is getting out since he is reportedly tired of fans thinking he's sitting on his hands. Sacramento Bee
The piece that gets it done here is Tayshaun Prince, and the Pistons are - according to ESPN's Chris Broussard - have already considered other moves that include their stars. A Kings source tells me they have not called Sacramento, and I wouldn't be shocked if no one else had recently either. I'm told it's quiet enough that Kings basketball president Geoff Petrie is heading out for a vacation, which means we have something in common. Sacramento Bee
Forget the Allen Iverson fantasy, but let's seriously consider a name that continues to be mentioned among trade rumors: Chauncey Billups. The 32-year-old point guard may be headed into the twilight of his career as an elite-level player and does have three years and $36.3 million left on his contract (not counting a team option of $14.2 mil in 2011-12). But if you're trying to build something here and make this team attractive to LeBr- I mean, free agents, this is the type of player you go after. NY Newsday
Flip Saunders got whacked and now the roster is going to get an overhaul. And Rodney Stuckey's emergence during the playoffs perhaps has made Billups expendable. Reports have suggested the Pistons offered Billups to Denver in a package for Carmelo Anthony and also have talked to the Warriors about Andris Biedrins. NY Newsday
Matt Barnes has left the Warriors, signing a one-year contract with the Suns on Tuesday. The 6-foot-7 forward spent the last two seasons with Golden State, averaging 8.5 points and 4.5 rebounds. His best season came in 2006-07, when he averaged 9.8 points and 4.6 rebounds, then had 11.1 points and 5.7 rebounds in 11 playoff games. San Francisco Chronicle
The Warriors have until Friday to decide whether to match the Clippers' multiyear offer sheet, believed to be worth about $3 million a season, to Kelenna Azubuike. Mullin has offered little indication which way the team is leaning, saying Saturday, "The decision could very easily go down to (Friday). We're looking at other things in the meantime." Tuesday's trade could be read either way with Williams' contract - about $1.2 million - leaving the Warriors enough money under the salary cap to match Azubuike's offer, or as an indication that Golden State is set to let Azubuike leave. San Francisco Chronicle
Having learned finally to share the ball, Kobe Bryant is poised to lead the United States' charge for Olympic basketball gold in Beijing. Appearing at his first Olympics, the NBA's Most Valuable Player could be the key to American hopes of regaining a title once regarded as their birthright. Bryant will also be looking to emulate Michael Jordan, arguably the sport's greatest player, by following his MVP title with an Olympic gold medal. Jordan won gold as a college player in 1984 and again with the fabled "Dream Team" of the 1992 Barcelona Olympics, alongside Larry Bird and Magic Johnson. Reuters/Boston Globe
A team ethic, embodied by the maturing Bryant, underpins the U.S. squad, who will face strong competition, not least from 2004 gold medalists Argentina and world champions Spain. Bryant's ability to break down the defense off the dribble and solid shooting will be a huge plus for a U.S. team who could manage only bronze at the 2006 world championships in Japan. Reuters/Boston Globe