Hawks reach buyout agreement with GM Danny Ferry

The Atlanta Hawks have agreed to a buyout of the final two years of general manager Danny Ferry's contract, according to a person with knowledge of the agreement.

The buyout will be paid by the current ownership group, which has a deal to sell the team for $850 million to a group led by billionaire businessman Antony Ressler.

Ferry was the lead architect of the Hawks' most successful season but has been on an indefinite leave of absence following racially derogatory comments he made last year.