Hawks match Jazz offer sheet, re-sign G Jason Terry

Updated: September 25, 2003, 6:38 PM ET

SALT LAKE CITY - In their first major move since last week's ownership change, the Atlanta Hawks on Thursday re-signed guard Jason Terry, who had signed an offer sheet with the Utah Jazz on September 11.

The Hawks had until Friday to decide whether or not to match Utah's offer. Terms of the contract were not disclosed, but the Atlanta Journal-Constitution reported it to be a three-year deal worth $22.5 million.

"We are ecstatic to have Jason return as a member of the Hawks," general manager Billy Knight said. "He is a dynamic young player that represents all of the qualities we look for in our players."

A 1999 first-round pick, Terry has career averages of 16.1 points and 5.6 assists in 322 games, all with the Hawks. Last season, he averaged 17.2 points and a career-high 7.4 assists.

Terry's signing gives some stability to a franchise that spent the summer in a state of flux. Time Warner was looking to sell the team and appeared close to reaching a deal with David McDavid.

However, a sudden change of heart saw the media conglomerate sell the Hawks, NHL's Atlanta Thrashers and Philips Arena to a group of eight businessmen, several of whom made an unsuccessful run at purchasing the expansion Charlotte NBA franchise.

While negotiations dragged on, Knight and coach Terry Stotts were retaining their jobs only on an interim basis. Stotts even interviewed for jobs with other teams.

Knight helped broker a four-team deal that saw scoring forward Glenn Robinson sent to Philadelphia while receiving the contract of injured Minnesota guard Terrell Brandon, who likely will never play again.

Prior to the re-signing of Terry, the Hawks' only other offseason move was the signing of reserve point guard Jacque Vaughn.

Meanwhile, the rebuilding Jazz again failed in a bid to add an established player. This summer, they signed swingman Corey Maggette to an offer sheet that was matched by the Clippers and tried to lure free agent center Brad Miller, who eventually landed with the Sacramento Kings.

With four days before rookies and young players report to training camp, the Jazz remain approximately $8 million beneath the salary floor of $32.8 million.

This story is from ESPN.com's automated news wire. Wire index