Joe Johnson Trade done

[sa_butta]

http://www.usatoday.com/sports/baske...tm?POE=SPOISVA

Belkin leaves as Hawks owner; Johnson deal done
By Charles Odum, Associated Press
ATLANTA — Steve Belkin agreed to sell his share of the Atlanta Hawks on Friday, allowing the team to complete a trade for Phoenix guard Joe Johnson and settling a dispute that brought the owners to court. The NBA said Belkin would leave as the team's governor and sell his share of Atlanta Spirit, the nine-man group that also owns the NHL's Thrashers and Philips Arena.
Soon enough, Joe Johnson will be driving the Hawks offense rather than driving against the Hawks defense.By Gregory Smith, AP
The team called an afternoon news conference to announce the sign-and-trade deal for Johnson, who will become the club's highest-paid player with a five-year deal worth about $70 million. The Hawks will send guard Boris Diaw, two first-round picks and a $4.9 million trade exception to the Suns to complete the deal.

Belkin's opposition to the trade — and refusal to OK it even though the remaining owners approved — left the Hawks in turmoil.

The other owners wanted to remove Belkin from his role as governor. Belkin went to court in Massachusetts to stop them. Finally, NBA commissioner David Stern ruled the Atlanta- and Washington-based owners, who control 70% of Atlanta Spirit, could remove Belkin, who holds 30%.

The split led to negotiations, and Belkin agreed to sell his share to the other owners for an undisclosed sum. The deal is expected to be completed by the end of the year. Atlanta Spirit paid $250 million last year to buy the Hawks, Thrashers and Philips Arena from Time Warner, which sold the teams to reduce heavy debt.

Stern said it became clear that "philosophical differences" prevented the Hawks from trying to build a winning team.

"I appreciate that Steve has voluntarily resigned as NBA governor in order to ensure that the team can move forward with one voice," he said. "I certainly hope that he will consider returning to the NBA as an owner of another franchise in the near future."

Michael Gearon Jr., one of the Atlanta-based owners, will replace Belkin as NBA governor.

The Johnson trade was held up for two weeks. General manager Billy Knight agreed to a deal with the Suns and thought the owners were on board. But Belkin objected, saying the Hawks were giving up too much and exposing a simmering rift between the Boston-based businessman and the rest of the ownership group. Under NBA rules, a team's governor must approve all trades.

The other owners charged that Belkin was unwilling to spend big money to rebuild the Hawks, who are coming off the worst season (13-69) in franchise history. Belkin said he was more concerned with the other parts of the deal, believing the Suns would not be able to match the contract the Hawks were offering.

Johnson averaged 17.1 points for the Suns last season and is expected to play the point in Atlanta.

While Belkin won a temporary injunction in Boston blocking the other owners from removing him, a judge lifted it last week. The ruling followed an affidavit filed Aug. 11 by Stern, who cleared the way for the other owners to replace Belkin. The Hawks still had to wait five business days before taking the action. That period ended Friday.

[spurster]

2 1st-round picks? That's not a bad deal for the Suns.

[Rick Von Braun]

2 first round picks from Atlanta and the trade exception. It is not bad at all given the cir stances.

[SenorSpur]

In the back of my mind, I believe ATL gave up too much. It's been reported numerous times that becuase of the "bad blood" that ensued from last summer, JJ had no intentions of going back to PHX. It's likely ATL could have gotten him without giving up the picks.

Let's hope ATL get compe ive right away. The last thing I want is for those PHX assholes to land a superstar-type guy via high school or the draft.

[Dos]

2 first round picks .. thats going to suck especially if they are lottery picks..

[BillsCarnage]

One pick is lottery protected in 06, top 3 in 07, unprotected in 08.

The other is via Boston from LA. Which ever pick is better, Boston's or LA's, the Suns get the other. Probably 12-17. I'm not sure which year it is.

The trade exception will actually be @ $6mil because they're going to use part of the Voshkul TE for this.