Wednesday , Jul , 23 , 2008 C.Y. Ellis

Josh Childress Signs with Olympiakos

Atlanta Hawks fans won’t have to fret over the fate of restricted free agent swingman Josh Childress anymore.

That’s because Childress is no longer a Hawk. He said he agreed to terms Wednesday morning on a three-year contract with Olympiakos of Greece that is worth far more than $20 million initially reported.

"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."

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.