UPDATE: I spoke to Jeff Teague this morning. He doesn't think the Hawks will match the offer and has told GM Danny Ferry that he is ready to move on. Here are a couple quotes.

“It was a perfect situation for me, being familiar with the coaching staff and talking to them on the phone. They embraced me and they wanted me. They told me that. That is something I never really heard (in Atlanta). Once somebody said they actually wanted me to be a part of their future I’m all for it.”

“I really didn’t talk to them much through the process. I enjoyed my time there in Atlanta. I don’t think I really got too familiar with everybody once there was the switch in the front office. I don’t think we really built the relationship that we could have. It is what it is.”

Look for a complete story later today.

Jeff Teague signed a four-year, $32 million offer sheet from the Bucks. The Hawks received the notice Wednesday night.

The Hawks have three days to match the offer or the point guard will be re-united with former Hawks coach Larry Drew and center Zaza Pachulia.

Teague, a restricted free agent, received a $4.5 million qualifying offer from the Hawks. The team is reshaping its roster with a $6 million salary cap hold for Teague on the books. If the Hawks choose to match the $8 million a year offer, they would have approximately $7 million in cap space as the roster currently stands.

Teague, 25, was the Hawks’ third leading scorer with a career-high 14.6 points per game last season, behind Josh Smith and Al Horford. In his second year as a starter, he led the team with 7.2 assists per game, 12^th in the NBA. He also averaged 2.3 rebounds, 1.5 steals and 2.9 turnovers in 80 games. Teague averaged 13.3 points and 5.0 assists in the six-game first-round playoff series loss to the Pacers.

Should the Hawks not match the offer, they would currently have Shelvin Mack at point guard. Lou Williams, rehabbing from a torn ACL, is also capable of playing the position. The Hawks drafted 20-year-old Dennis Schroeder from Germany last month. He is about to participate in the Las Vegas Summer League. However, as GM Danny Ferry told me yesterday there is still work to do.

Let the discussion begin. Should the Hawks pay Teague $8 million a year or let him go to Milwaukee?