The owners of Euroleague team Olympiacos, which shook up the NBA by signing Atlanta Hawks sixth man Josh Childress, say they're just getting started signing NBA players.
Panayiotis AngelopoulosPanayiotis Angelopoulos, a billionaire who owns Olympiacos with his brother George, said he wants to make his team the best in the world outside the NBA, according to The New York Times.
"Next season I will open up a small office for free agents in New York, and I will take petitions," Angelopoulos said.
Childress stunned many NBA observers when he signed a guaranteed three-year deal worth $20 million after taxes with Olympiacos, rather than re-sign with the Hawks. Olympiacos is paying Childress' Greek taxes, the 10 percent agent's fee and his housing and expenses, increasing the team's cost to $30 million, according to the report.
According to The Times, Angelopoulos said he had in the past three years negotiated with NBA players including Chris Webber, Michael Finley, James Posey, Anthony Parker, Charlie Bell, Ricky Davis, Jannero Pargo and Maurice Evans.
Olympiacos, with a $70 million operating budget and the backing of the Angelopoulos brothers' billions, could be a serious player in the free-agent market. The family owns shipping and steel companies and Angelopoulos said he has done multimillion-dollar business deals, according to the report.
Source: Espn.com
