Marc Stein is reporting that the Phoenix Suns and Atlanta Hawks are on the verge of completing a sign and trade with restricted free agent, Joe Johnson.

The proposed deal, according to sources, would bring guard Boris Diaw and two lottery-protected future first-round picks to Phoenix -- along with a trade exception in the $5 million range -- after Johnson signs a contract under terms established by Atlanta: $70 million over five years with an estimated balloon payment of $20 million up front.

Johnson has agreed to sign a five-year/seventy million dollar contract with the Hawks.

After maintaining for weeks that it would match any offer sheet Johnson signs, Phoenix chose a new course this weekend, ultimately deciding it was better for team chemistry to pursue a sign-and-trade with Atlanta instead of investing huge sums in a player who wants to leave.