Paul Millsap

Reports: Free agent Paul Millsap agrees to three-year deal with Hawks

Published Jul. 1, 2015 6:47 p.m. ET

Zach Dillard

The Atlanta Hawks made their choice.

The team chose Millsap, who earned two All-Star nods on his initial contract with the team. According to multiple media reports, the free-agent big man is staying in Atlanta, where he enjoyed the best two seasons of his career.

The 6-foot-8 veteran forward has agreed to a reported three-year, $58.9 million deal.

The deal cannot be finalized until July 9, when the league lifts its free agency moratorium.

When the Orlando Magic reached out with a reported four-year, $80 million max offer on Wednesday, Atlanta immediately countered. The acquisition of Spurs big man Tiago Splitter -- and the remaining two years, $16.75 million left on his contract -- guaranteed that the Hawks' starting five was not going to be retained. Somewhere along this fast-paced free agency timeline, Carroll agreed to a reported four-year, $60 million deal with the Toronto Raptors. The Hawks simply didn't have the cap flexibility to accomodate all three moves.

Millsap is once again betting on himself with a shorter-term deal designed to give him leverage once the NBA's new TV contract inflates the salary cap.

The contract gives Millsap a player option in the third year -- and an opportunity to re-join the free-agent market when the salary cap escalates past $100 million.

The Hawks likely will be in the market for more wing depth after Carroll's departure, looking to add pieces alongside Kyle Korver, Thabo Sefolosha (the Carroll heir apparent), Kent Bazemore and the recently acquired Tim Hardaway Jr.