Aug 4, 2008 - 9:27 PM
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Arroyo inked a one-year deal with options for two more seasons with Israeli powerhouse Maccabi Tel-Aviv, the club announced Monday.
"I'm very happy we've completed this signing," Maccabi coach Effi Birnboim said. "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. He's a great basketball player as well as being a great leader."
Financial terms of the deal were not disclosed, but ESPN.com reported that Arroyo will receive an estimated $2.5 million net next season - roughly the equivalent of a $5 million NBA salary after taxes.
The web site also said the deal has an opt-out provision after each of the next two seasons if the Puerto Rico native wants to return to the NBA.
For now, he is the eighth player who held a job in the NBA last campaign to defect to a foreign club since the free agent season began on July 1.
Arroyo joins former Atlanta Hawks forward Josh Childress as the second established player to parlay their NBA success into a more lucrative contract abroad.
Toronto Raptors guard Carlos Delfino, Juan Carlos Navarro of the Memphis Grizzlies, Toronto Raptors forwards Jorge Garbajosa and Primoz Brezec and New Jersey Nets teammates Bostjan Nachbar and Nenad Krstic were the other players to sign with foreign clubs this offseason.
The 29-year-old Arroyo spent parts of seven seasons with five different teams, averaging 7.0 points and 3.3 assists over that span. He had a brief stint in the Euroleague with Spanish club Tau Ceramica in 2001-02.
Arroyo perhaps is best known for a remarkable performance in the 2004 Olympics, when he led Puerto Rico to an upset of Team USA, the Americans' first loss in Olympic play with NBA players.
Maccabi Tel-Aviv, which has won the Euroleague title five times since 1977, lost in the league's title game last season.
