It's All Greek to Me...

[lethalweapon3]

Lemme know if you're reading this translation the same way I am: that if Chillz, Kleiza, et al. elect to stay with Olympiacos, the team will try to renegotiate contracts to deal with the reformed tax structure following the country's austerity measures. Generally stretching salaries out over more years. Kleiza and others may not be amenable to reduced annual contracts.

(For full article)

http://www.redplanet.gr/html/ent/184/ent.270184.asp

H KAE Olympiakos in recent years was the launch batzet group, however, the Red and white administration this year, and several European teams are available to reduce their costs.

Panagiotis and George Angelopoulos, will soon have contacts with Certain players of Piraeus, the main topic, of readjusting their contracts. Disposal part of the basketball club, is to make cuts primarily to the high contracts in conjunction with cooperative extension of their agreement.

Discussions with Childress & Bourousis and if Schortsanitis

Discussions to reduce annual financial earnings are expected to also have the Josh Childress (4.2 million) and John Bourousis (1.7 million), while in the case of Sophocles Schortsaniti which is left in the summer, available to OEM Olympic is to keep him in the team, but in any case, with 1.5 million euros to woo the Greek Center for each year of cooperation. The option of the wise is the NBA and the Los Angeles Clippers, where the player takes the decision to leave the port of Piraeus to take the plunge on the other side of the Atlantic where he was eagerly waiting for the Americans. Regarding the Linas Kleiza (2.3 million) would not accept cuts.

Nightmare for professional athletes to 40% with the Internal Revenue Service

Thinking has brought, not only in basketball but in all professional athletes who compete in Greece, the new data on taxation, which require longer retention of 40% from the earnings of players, as opposed to 20% as until recently. This means that if an athlete, for example, rewarded with 2 million per year in net profit is around 1.2 million, with the remainder (800 000) to keep the state. It is assumed that the players will want to negotiate with their teams this with the tax office, with most likely scenario to share 40%, something the Greek groups are not "hot" and would clearly be negative, especially when athletes that will not accept reduced wages in their contracts.

~lw3

[mrhonline]

He'll sign an MLE offer sheet in the U.S., IMHO. More guaranteed money over the length of the deal.

[coachx]

He'll sign an MLE offer sheet in the U.S., IMHO. More guaranteed money over the length of the deal.

That is basically what Sund was offering him 2 years ago.

[jezmund]

That is basically what Sund was offering him 2 years ago.

I would be very pleased to see Childress signed at the MLE. It would be nice to find a way to move Marvin in a deal bringing back guard depth, big depth or a draft pick.

[Sothron]

That is basically what Sund was offering him 2 years ago.

Big difference is that Greece had no taxes on player salaries. That sounds like it is now changing. Most European countries have the teams pay the player's taxes plus give them other "bonuses" like free houses, cars and in some countries women.

[lethalweapon3]

Big difference is that Greece had no taxes on player salaries. That sounds like it is now changing. Most European countries have the teams pay the player's taxes plus give them other "bonuses" like free houses, cars and in some countries women.

Or at least, as you noted, the burdens on Greek teams paying players' income taxes is changing (perhaps doubling?), prompting renegotiations to spread the annual impact. That's again assuming I'm reading this right.

~lw3

[Brotha2ThaNite]

Big difference is that Greece had no taxes on player salaries. That sounds like it is now changing. Most European countries have the teams pay the player's taxes plus give them other "bonuses" like free houses, cars and in some countries women.

That makes me wonder is Chillz pimping over there with that fro. LMBO!