The terms of the sign-and-trade deal that will send Hawks free agent Al Harrington to Indiana are nearly done, according to two people familiar with the negotiations.
According to a report by Sekou Smith of the Atlanta Journal-Constitituion, the Hawks will sign Harrington to a six-year deal worth an estimated $60 million and then send him and reserve center John Edwards, both former Pacers, back to Indiana in exchange for cash, a future draft pick and a trade exception.
The sticking point of the deal is the cash the Hawks will receive according to those familiar with the negotiations. The Hawks want more than the Pacers are willing to give. A deal for Harrington has stalled nearly a month after the NBA's free-agent negotiating period began.
"No, there is no deal. There is nothing new to report," Hawks general manager Billy Knight said Thursday afternoon.
While frustrated fans continue to wonder how long it will take for the deal to be done, Knight said he's not experiencing the same frustrations.
"I'm not exasperated at all," he said. "All you can do is see what happens at the end of the day and just let this thing play out."
"Obviously we're disappointed at the pace of the transaction," Harrington's New York-based agent Andy Miller said Thursday, "but I will say that everybody is working diligently to find a solution to execute."
The Pacers secured a $7.5 million trade exception in an earlier sign-and-trade deal with New Orleans/Oklahoma City that allows them to make the deal with the Hawks.
They're over the NBA's salary cap and would not be able to acquire Harrington without it.
Pacers president Donnie Walsh told the Indianapolis Star on Thursday that they are waiting on Knight.
"It's up to Billy now," he said.
"We're just waiting to here where we are. I have hope it can get straightened out, sooner rather than later. That's important to us. But I don't think we've reached a point where we say 'We have to get it done or we can't use the [trade] exception.'
"We'll just keep working on it and see if we can get it done."