It looks like Joe Johnson is headed to the Brooklyn Nets, and if he is, we can be pretty sure that it means Deron Williams is returning to the team next season. The Hawks get expiring contracts but no first round pick from Nets.
Adrian Wojnarowski is reporting that there will be no first round pick, just expiring contracts.
As teams finalize framework of Joe Johnson deal contingent on DWill commitment, Nets won't be sending future 1st to Atlanta, source tells Y!— Adrian Wojnarowski (@WojYahooNBA) July 2, 2012
The implications of this trade suggest that Deron Williams is signing in Brooklyn and not with the Dallas Mavericks, his hometown team. Reports as of late have Williams leaning toward staying with the Nets, and a trade for Johnson's expensive contract that would only be an investment that coincides with that.
This should free up some cap space for the Hawks to pursue future free agents, possibly Dwight Howard in 2013. Howard will be the most sought after free agent next summer and the Hawks are almost certain to make a play for him.