Update: Teague (knee) was traded to the Pacers on Wednesday as part of a three-team deal, Adrian Wojnarowski of Yahoo! Sports reports.
Analysis: The Pacers will send George Hill to the Jazz in the trade, while the Hawks will acquire the 12th overall pick in Thursday's NBA Draft from Utah. With Dennis Schroder excelling in a reserve role last season and showing the Hawks that he's capable of taking the reins as the team's starting point guard, Teague became expendable and will open $8 million in cap space for the team. For his new team, Teague should claim Hill's spot in the starting lineup, but he doesn't figure to notice much of a boost in his 2015-16 averages of 15.7 points and 5.9 assists per game with the Pacers' offense running through high-volume All-Star Paul George. Nonetheless, the Pacers seem to view the 28-year-old a building block, as they plan to work on a contract extension with Teague before he becomes a free agent in 2017, according to Wojnarowski. Teague was hampered by a torn patellar tendon last season, but he should be fully healthy by the time training camp begins in the fall.