What a day for the Hawks. There have been rumors flying around all day here in New Orleans, and though it's not official yet (it's now official!) Sekou Smith is reporting the Hawks have reached an agreement with the Sacramento Kings to acquire point guard Mike Bibby in exchange for Tyronn Lue, Anthony Johnson, Lorenzen Wright, and Shelden Williams.

Let me say first that I will be sad to see these four guys go, as each brought something to the table for the Hawks and were good teammates and professionals during their respective tenures in the ATL. I wish each of them the best of luck in Sacramento and beyond.

Having said that, this is a terrific deal for the Hawks. Mike Bibby is everything you could want for the Hawks in a point guard. He is a terrific scorer, capable of creating shots for his teammates and for himself. He is used to playing an up-tempo style of ball, so he should be instrumental in helping the Hawks get out and run on the break, which we all know is the key to the team's success.

Also of importance, Bibby has a ton of playoff experience and is a late-game killer. He has hit several big shots throughout his years in Sacramento, and I think we'll all feel very comfortable with the ball in his hands in late-game situations. He will provide a perfect complement to Joe Johnson in the Hawks backcourt, helping to solve a big issue for the Hawks in terms of trying to prevent teams for double- and triple-teaming JJ.

To be able to acquire a player with his amount of talent and not have to give up one of the Hawks core of young players (Josh, Josh, Al, and Joe) is phenomenal. After the trade for JJ, I'd rate this right now as easily the second best move of Billy Knight's career.

Sacramento is out of the playoff race in the West and focusing on rebuilding, and they get a nice bit of salary cap relief with Lue, Wright, and AJ all in the last year of their contracts. Shelden Williams never really found his niche in a year and a half in Atlanta, but perhaps a change of scenery will give him the chance to make his mark.

Bibby dealt with some injuries earlier this year, and his contract is fairly hefty at 26 million over the next two years (though the Hawks are only on the hook for a prorated amount of that this season), but there is risk in any deal you make. This one was a no-brainer for the Hawks, who have to feel pretty good about themselves going into the season's second half.

AJ, T-Lue, Ren, and Shel - we wish you guys the best.

Mike Bibby? Welcome to Atlanta.

Update: It's official. Sacramento also gets the Hawks 2008 2nd-rounder in the deal

Update: Here are some money quotes from Joe about the deal, courtesy of Sekou Smith's piece in the AJC:

"This is another huge step for us," Johnson said Saturday while preparing to play in Sunday's 57th NBA All-Star Game. "You're talking about a guy who can make shots and can run a team. He embodies all the things we've wanted in a veteran point guard and he's also a guy that's known for taking and making big shots.

"And you can never have too many guys like that in the NBA. As tough as it is to see guys like Lue, A.J., 'Ren and Shelden leave, we all realize that this is a business and decisions are made and you make the best of things and move on. But there's no doubt we're getting a guy that can help make us better."