Hawks' forward Paul Millsap has reached a new deal with his current team, the Atlanta Hawks. Both sides have agreed on a three-year, $58 million deal. The deal was reached at the end of a full day of free agency.

Earlier in the day, it was reported by numerous sources that both the Hawks and Magic offered Millsap a four-year, $80 million deal. From there, it was a waiting game for both parties. There was also speculation on a sign-and-trade that would have sent Paul Millsap to Orlando and Tobias Harris to Atlanta. The Hawks may have had a feeling of skepticism on trading one of their All-Stars to a division rival.

Millsap will still be getting close to $20 million over the next three seasons. His value in the NBA market has soared over the last two seasons as he has averaged 17.3 points while with the Hawks. He also emerged as an All-Star for the past two seasons.

Millsap spent seven seasons with the Utah Jazz prior to coming to the Hawks. Utah was one of the teams that inquired about pursuing Millsap in free agency but no offer was made.

The Atlanta Hawks were extremely active today on the first day of free agency as they received Spurs' center Tiago Splitter in a trade. This move helped Atlanta fulfill the need of aquiring a true center. The Hawks also lost small forward DeMarre Carroll to the Toronto Raptors.

Paul Millsap's return to Atlanta helps the Hawks with their bid for a second straight Eastern Conference Finals appearance. Acquiring a true center in Tiago Splitter will help Al Horford move to his original forward position which will benefit the Hawks in being able to protect the rim and improve on the boards. The Hawks will also continue to thrive in Millsap's improved three-point game and his ability to create his own mid-range jump shot.