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Another established NBA free agent is heading overseas.
Veteran point guard [Only registered and activated users can see links. ], whose future with the [Only registered and activated users can see links. ] appeared to vanish after limited minutes in the playoffs and the Magic's recent signing of [Only registered and activated users can see links. ], has accepted an offer from Israeli giants Maccabi Tel-Aviv.

Arroyo's agent, Leon Rose, confirmed the signing to ESPN.com on Sunday night after Maccabi Tel-Aviv coach Effy Birenboim appeared on the country's national sports network (Sport5) to tout what is believed to be the richest transaction in Maccabi's history.
Sources in Israel said Arroyo will receive an estimated $2.5 million net next season -- roughly the equivalent of a $5 million NBA salary after taxes -- as part of a three-year contract. The deal includes an opt-out provision that will enable Arroyo to return to the NBA after each of the next two seasons if he chooses.
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Gary Dineen/Getty Images
Carlos Arroyo is the eighth player from the 2007-08 NBA season to sign with a foreign club since free agency began on July 1.


Arroyo becomes the eighth player who worked in the NBA in 2007-08 to sign with a foreign club since free agency commenced July 1. But he's just the second -- along with former [Only registered and activated users can see links. ] swingman [Only registered and activated users can see links. ] -- who had established himself in the NBA before finding a more lucrative contract.

Childress spurned a five-year offer worth an estimated $33 million from the Hawks to sign a three-year deal worth at least $20 million from Greek power Olympiakos.
All of the other players to sign with European clubs in recent weeks -- Serbia's [Only registered and activated users can see links. ], Spain's [Only registered and activated users can see links. ] and [Only registered and activated users can see links. ], Argentina's [Only registered and activated users can see links. ] and Slovenia's [Only registered and activated users can see links. ] and [Only registered and activated users can see links. ] -- played for top-level teams overseas before coming to the NBA.

Big spending by a small handful of European clubs with the wherewithal to offer contracts at or above NBA prices, thanks largely to the declining fortunes of the American dollar compared to the euro, put pressure on Maccabi to make a marquee signing of its own.

After attempting to fill its backcourt void by chasing summer-league sensation [Only registered and activated users can see links. ], who elected to sign instead with the [Only registered and activated users can see links. ], Maccabi also made a high-profile attempt to sign [Only registered and activated users can see links. ] free agent [Only registered and activated users can see links. ]. Arroyo becomes the second [Only registered and activated users can see links. ] alumnus to join Maccabi in recent weeks, joining forward [Only registered and activated users can see links. ], who was selected No. 9 overall by Detroit in the 2001 draft.

Maccabi reached the Euroleague title game last season and has won Europe's top team prize five times since 1977, while also ranking as the only team from abroad to beat an NBA team on North American soil thanks to a 105-103 victory over the [Only registered and activated users can see links. ] in the 2005-06 exhibition season. But Maccabi is coming off a disastrous season domestically in which it inexplicably lost the Israeli championship to tiny Hapoel Holon.

Arroyo, who turned 29 last week, averaged 6.9 points and 3.5 assists for the Magic last season in 62 games but appeared in only four of Orlando's 10 playoff games. Given Arroyo's proven scoring ability and vast international experience, which includes a brief stint in the Euroleague with Spanish club Tau Ceramica during the 2001-02 season, Maccabi will be expecting him to make a faster-than-usual transition to the European game.

After his 25 points in Puerto Rico's upset of the United States in the opening game of the 2004 Olympics in Greece -- Team USA's first-ever Olympic loss using NBA players -- Arroyo led his country to the brink of another Olympic berth last month before a torn muscle in his left leg held him out of the deciding game against Germany. Puerto Rico coach Manolo Cintron said Arroyo would have been healed in time for the Olympics had Puerto Rico qualified, but the [Only registered and activated users can see links. ]-led Germans claimed the final berth in the 12-team Olympic field for Beijing with a 96-82 victory.

"Aside from his on-court qualities, he's also a proven leader," Birenboim told Israel's Ma'ariv newspaper. "And that's very important to us."

On the team's official Web site, Birenboim added: "Arroyo is a player of the highest standard and has been our top priority for a while. Luckily for me, Maccabi's management agreed to sign him despite the huge costs. This is exactly the player we need."

Marc Stein is the senior NBA writer for ESPN.com. To e-mail him, [Only registered and activated users can see links. ].
I fliped a **** when i saw this on the bottom of espn. Im still clueless as to why the hell the knicks signed Chris Duhon instead of Arroyo. Maybe the best role player in the nba.