I imagine it pales in comparison for him beside the Laureus award - I mean, he hasn't been at the BBC ceremony in person since 2003, hence Becker having to deputise for him - but having a separate category for overseas athletes is probably something that SI should do as well.
SI wants to keep the pretense that they consider international athletes - hence they will not adopt the Overseas Sportsman of the Year award. Then again, who would WANT to win it anyways? Does SI have any credibility?
Perhaps now the Fed fans can stop crying over not winning the SI Award? It would be a good idea for SI to have an overseas Award. Most countries are likely to give preference to their sports heros than foreign athletes.