"It's official, I just signed," Childress said by phone Wednesday morning from Athens, the newspaper reported. "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, according to the report. It follows the decision by top prep prospect Brandon Jennings to sign with an Italian club team rather than play a season at Arizona.

Yahoo.com reported on Monday that Childress, who averaged 11.8 points and 4.9 rebounds last season, had an offer on the table from Olympiakos for more than $20 million over three years. But Hawks general manager Rick Sund told the AJC on Monday that the four-year pro was just exploring his options.

The newspaper reported Monday the Hawks had a deal on the table worth nearly $36 million, with a first-year salary in excess of the mid-level exception of $5.6 million.

While the Hawks could match any offer from another NBA team for Childress, they do not have the ability to match an offer from a European team.