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Olympiakos Offers Deng Equivalent of $37 Million+ Contract?

July 23rd, 2008 by Andrew Wamboldt

According to Sports FM in Greece, the Greek club, Olympiakos offered Luol Deng a two year contract worth $11.5 million net per a year. That would be a $23 million net over two years contract .

The “net” deals that Euro League teams deal in is the amount that goes to the player after taxes and agent fees. So only taking into account taxes, Luol Deng was offered a $37 million over 2 years contract in NBA equivalency. If it is assumed that there would be the standard 4% agents fee, Deng would have been offered approximately $40 million over 2 years contract in NBA equivalency.

Due to Greek basketball fans, Luol Deng turned down the offer because he wants to remain in the NBA.

The ability for Euro League teams to make these competitive offers to NBA players is the result of the weak US Dollar, which is currently only worth .638243554 Euros.

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This entry was posted on Wednesday, July 23rd, 2008 at 5:24 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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