I know we are all anxious to see some resolution on the Josh Smith front, and it appears there might finally be something that could put the wheels in motion to move towards the end game.

The Memphis Commercial-Appeal is reporting that the Grizzlies, owners of a lot of cap space that they'd so far been unwilling to spend, have signed Smith to a 58-million dollar contract offer. The article doesn't say the length of the deal, but I have to assume it's for five years.

If that is indeed the case, the Hawks will have seven days to match the offer, figure out some sort of sign-and-trade, or let Smoove walk.

We've been waiting for some team to set the bar, and now it appears it's been set. I'll keep you posted should anything other news break...

UPDATE: I did a little research, and I was wrong on one count - once Josh signs the offer sheet, the Hawks sign-and-trade options go away. They can only sign him or let him go to Memphis.

UPDATE: Here is the official statement from the organization: “Consistent with our policy, the Hawks will not comment on confidential negotiations until we agree to a contract, or receive an official offer sheet.”