The Hawks have agreed to a sign-and-trade that would send forward Josh Childress to Phoenix for a second-round pick and a trade exception, people with knowledge of the situation confirmed.
Paul Coro of the Arizona Republic reported Sunday night that the deal was “on the verge” of completion. Childress would sign with Phoenix for six years and at least $30 million, according to the report.
If Childress signs a deal for those terms, Atlanta’s trade exception would be worth half the amount of his first-year salary since he would become a base-year compensation player. The exception works as a sort of credit that would allow the Hawks to make a trade while over the salary cap without meeting the usual salary-matching requirement.
Atlanta drafted Childress with the No. 6 overall pick of the 2004 draft. He played four seasons with the Hawks before opting to sign a free-agent contract with Greek team Olympiakos in 2008. He has until Thursday to opt out of the final season of that three-year, $20 million deal.