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NBA Hawks reportedly pass on Knicks' $71 mn offer to Hardaway Jr

NBA Hawks reportedly pass on Knicks' $71 mn offer to Hardaway Jr

The Atlanta Hawks will not match the New York Knicks' massive four-year, $71 million contract offer to Tim Hardaway Jr.

Hardaway's offer sheet was delivered to the Hawks on Thursday night, and Atlanta elected to pass on a deal that is a significant investment with a fourth-year player option worth almost $19 million, league sources said. Steve Mills paid way over market value for Hardaway Jr., 25, who is coming off the best season of his career in Atlanta.

NY all but officially has more than one-third of its cap space invested in Hardaway and an injured and suspended Joakim Noah.

New York's offer was over $20 million more than what Atlanta had previously offered (and were willing to give) Hardaway.

Atlanta will not match New York's $71M offer sheet to Tim Hardaway Jr., but official notification still hours away, sources tell ESPN.

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Hardaway Jr, was a key member of the Hawks' playoff team last season, averaging 14.5 points per game after steadily improving in "Hawks University".

NY renounced Derrick Rose's contract in order to have enough cap space for this deal. NY recently fired its president of basketball operations, Phil Jackson, as well.

The room exception, a small amount of cap space and veteran's exceptions are the only tools the Knicks now have to offer free agents.

The Knicks could also obtain a point guard via trade or could open up more cap space in any trade of Anthony. While numerous best point guards have been snapped up already, Rose and Rajon Rondo remain in search of a contract.

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