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Report: Paul Millsap returns to Hawks for three years, $58 million

Eric Freeman
ATLANTA, GA - MAY 03: Paul Millsap #4 of the Atlanta Hawks shoots over Paul Pierce #34 of the Washington Wizards during Game One of the Eastern Conference Semifinals of the 2015 NBA Playoffs at Philips Arena on May 3, 2015 in Atlanta, Georgia. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Kevin C. Cox/Getty Images)

After losing starting wing DeMarre Carroll to the Toronto Raptors earlier Wednesday, the Atlanta Hawks wasted little time in locking up their best available free agent for at least a few more seasons.

As first reported by Shams Charania of RealGM.com, the Hawks will re-sign unrestricted free agent forward Paul Millsap, an All-Star in each of his first two campaigns with the club, for three seasons at a total of $58 million. David Aldridge of NBA.com added soon after that the third year of the deal will be a player option, which could free up the 30-year-old Millsap to sign one last big contract after the salary cap rises in the summer of 2016.

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Millsap also expressed his excitement over the new deal on Twitter:

The contract looks like good value for both the Hawks and Millsap, who agreed to what appeared to be a below-market two-year, $19-million deal in 2013 to leave the Utah Jazz. Millsap more than earned those figures in his first two seasons with the Hawks, averaging 17.9 ppg and 8.5 rpg in 2013-14 and 16.7 ppg and 7.8 rpg in a 60-win 2014-15. Millsap also greatly expanded his offensive arsenal in those seasons and has become a proficient three-point shooter after rarely taking outside shots in Utah. Millsap met with the Orlando Magic at 12:01 a.m. on Wednesday (i.e. the first available minute of the free-agency period) and reportedly received dueling four-year max-level offers from both them and the Hawks, but he seems to have valued long-term flexibility and earning potential over instant gratification.

Millsap's quick decision will help the Hawks move forward as they attempt to replace Carroll, the team's best defensive wing and arguably their most consistent performer during what was on balance an unimpressive postseason run. While Wednesday's trade for ex-Spurs center Tiago Splitter gives head coach and general manager Mike Budenholzer new options and looks in the paint, the Hawks are still a perimeter-oriented group that must find a player who can approximate Carroll's mix of quality defense and no-nonsense offensive production. While All-Stars Millsap, Al Horford, Jeff Teague, and Kyle Korver received the bulk of the credit for the Hawks' excellent play in 2014-15, Carroll served as the connective tissue that linked everyone's talents. Defensive-minded players who can shoot threes have become increasingly expensive, and there's no guarantee that Budenholzer can obtain a suitable fit.

On a basic level, then, bringing back Millsap is important if only because it allows the Hawks to begin that search with the confidence that they're not too far away from maintaining their status as one of the top two teams in the East. Carroll is far more replaceable than Millsap, who marries physicality with finesse in a way that allows Atlanta to play a variety of lineups. Losing Millsap and keeping Carroll would have already made this offseason a negative one for the franchise. In keeping Millsap, they can at least hope to enter 2015-16 in better shape.

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Eric Freeman is a writer for Ball Don't Lie on Yahoo Sports. Have a tip? Email him at efreeman_ysports@yahoo.com or follow him on Twitter!