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Bibby Traded to the Hawks

This news broke while I was out, and has been well covered in Matt's diary and the comments to the earlier Atlanta thread below. But for those who (like me) got some air on a Saturday:

The Kings have reached an agreement in principle to send veteran guard Mike Bibby to the Atlanta Hawks for guards Anthony Johnson and Tyronn Lue and forwards Lorenzen Wright and Shelden Williams, sources told The Bee on Saturday. It was also learned that the Hawks will give the Kings their second-round pick in the June NBA draft.

The deal is contingent upon league approval that could come as early as today. According to sources who did not want to be identified because of ongoing trade discussions, a 1 p.m. conference was scheduled between the two teams and league officials.

The Kings save almost $11 million in 2008-09 salary, which places the Kings right below the projected cap level. As I said this morning, this means they can at the least sign Beno Udrih, and possibly (pending other trades) make a play for another midlevelish free agent.

We'll keep you updated.