First reported by ESPN, then Adrian Wojnarowski, and finally confirmed by Michael Cunningham. The Hawks have agreed to a sign and trade deal that will send Josh Childress to the Phoenix Suns in exchange for a second round pick and a trade exception. 

Childress will reportedly sign a six year deal worth around 30 million dollars. As MC explains in his post, the trade exception would be worth about half of Childress' starting first year salary. It would enable the Hawks to be over the cap and make a trade while having some leeway in terms of the salary matching requirement. 

Childress has until Thursday to opt out of his Greek deal so expect this to get finalized very soon. 

Personally I would have liked to have seen Josh back with the Hawks at some point but I guess there just wasn't enough mutual interest from both sides to make that happen. I think all hope of Childress coming back was over way back when Mo Evans decided not to opt out of his contract.

We'll keep you updated all day if any new details come about.