The Atlanta Hawks are finalizing a 4-year, $120 million maximum extension with veteran guard Dejounte Murray, according to multiple reports.

Murray, who was entering the final year of his contract, gets an extension that will run through the 2027-28 season.

The move comes less than two weeks after the Hawks agreed to a trade that sent John Colins to the Utah Jazz, clearing a significant amount of cap space.

In his first season with Atlanta, Murray averaged 20.5 points, 5.3 rebounds and 6.1 assists in 74 games. He shot 46.4 percent from the field and 34.4 percent from 3-point range.

Murray was acquired from the San Antonio Spurs in June 2022 for forward Danilo Gallinari and three first-round picks.

Although Murray had a strong season, the Hawks fell short of expectations and finished seventh in the Eastern Conference with a 41-41 record.