After just one week on the job, Hawks general manager Danny Ferry has drastically altered the course set by the franchise over the past five seasons.
In separate deals Monday, the Hawks agreed to trade All-Star guard Joe Johnson to the Nets for multiple players plus a draft pick and then send forward Marvin Williams to Utah for guard Devin Harris.
The moves represent a major change in direction for the team as Ferry seeks to create flexibility to make more major moves in the future by trading core players now.
Trades can't be officially consummated until July 11, the end of the NBA's moratorium, but a person with knowledge of the deals said the Hawks had agreed to the framework of both trades. The person did not want to be identified because teams are prohibited from discussing deals before they are official.
In exchange for Johnson, the Hawks are set to receive Jordan Farmar, former Georgia Tech standout Anthony Morrow, Johan Petro, DeShawn Stevenson and Jordan Williams from the Nets. Atlanta also would receive a 2013 first-round draft pick that is lottery-protected through 2016.
Once the trades become official, the Hawks would be left with less talent but with more financial mobility to stake out their future. The Hawks are sending out roughly $100 million in future salary commitments while taking back about $25 million.
The Hawks are in position to clear as much as $30 million in salary cap space in the summer of 2013. Magic center — and Atlantan — Dwight Howard and Clippers guard Chris Paul are among the star players eligible to become unrestricted free agents after next season.
The Hawks also have several assets that could be used in subsequent trades before then. Farmar, Morrow, Petro, Jordan Williams and Harris all have contracts that expire after next season, making them attractive trade targets for teams looking to shed future salary.
That was the impetus for the Hawks agreeing to trade away Johnson and Williams. That was particularly the case for Johnson, whom the Hawks are jettisoning just two seasons after former GM Rick Sund signed him to what was the richest contract in the league at the time.
Johnson, 31, is owed nearly $90 million over the next four seasons. The six-time All-Star is considered among the best shooting guards in the Eastern Conference but has been unable to escape the shadow of his contract, especially after he had disappointing performances in the past two postseasons.
Marvin Williams, 26, is to make about $8.3 million in 2012-13 and has a player option for $7.5 million in 2013-14. Former Hawks GM Billy Knight drafted Williams with the No. 2 overall pick in the 2005 draft and Williams never lived up to expectations or lived down fans' disappointment with Knight passing up Paul.
Johnson and Williams are part of the nucleus of Hawks teams that qualified for the postseason in five consecutive seasons. But the team has been unable to advance past the second round of the playoffs and Ferry didn't take long to decide that it was time to find a different mix of players.
Ferry's next order of business will be to decide what to do with forward Josh Smith. Before Ferry's hiring, Smith told the Hawks that he wanted to be traded to a franchise he considers to be more committed to winning a championship.
Smith's contract expires after next season and if he isn't open to an extension, Ferry could be motivated to trade him instead of risk losing Smith for nothing. Ferry said recently that he plans to meet with Smith soon.
After the trades for Johnson and Williams are complete, the Hawks will have 10 players under contract for next season. They also own the rights to two players they selected in the draft last week — John Jenkins of Vanderbilt and Mike Scott of Virginia.
Harris, Morrow and Stevenson are the most accomplished players among those Atlanta is set to add.
Harris, the No. 5 overall pick in the 2004 draft, has been hampered by a series of injuries over the years. He's still a quick point guard with the ability to get to the basket and draw fouls, elements that the Hawks have lacked. At 6-foot-3, Harris also has the size to play shooting guard.
Morrow, drafted from Tech by Golden State in 2008, is among the best jump-shooters in the league. Even after a significant dip in his 3-point accuracy last season, Morrow is shooting 42.6 percent from that range for his career.
Stevenson, 31, has slowed with age but remains a strong defender. He won an NBA championship with Dallas in 2010-11, earning accolades for his defense against Heat star LeBron James and some timely 3-point shooting.
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