The NBA is suddenly losing talent to European clubs. Josh Childress signed with Greek Olympiakos, Bostjan Nachbar signed with a Moscow club. Kevin Pelton of Basketball Prospectus gets it right:
"The combination of rising salaries in Europe and the sinking value of the dollar relative to the Euro has allowed Euroleague teams to compete financially in a way that would have been difficult even a few years ago. While the exchange rate is likely to turn around in time, European teams will still have an important factor in their favor: They are unbound by the restrictions and vagaries of the NBA's Collective Bargaining Agreement."
Ah, the joys of the exchange rate and free movement of labor. I wonder what the income tax rates are like in Greece? That would be something else that would have to factor into a decision to play there.
I plan on using this as an in-class example in the fall.