Hawks sign Bogdanovic after Kings fail to match offer sheet

Bogdan Bogdanovic's tenure in Sacramento has come to a close.

The Serbian will join Atlanta after the Sacramento Kings chose not to match the Hawks' four-year, $72-million offer sheet, ESPN's Adrian Wojnarowski reports. Atlanta later confirmed Bogdanovic would join the team, though terms were not officially disclosed.

Bogdanovic signed the Hawks' offer sheet Sunday, which gave Sacramento a 48-hour window to decide whether or not to retain the guard by matching it. By declining to match the offer, Sacramento won't receive any compensation for the 28-year-old.

"Thank you so much Sacramento Kings for welcoming me with so much love to start my NBA career," Bogdanovic wrote on social media. "Thank you to the fans and the city for welcoming me, and supporting me the whole time!!"

Sacramento's decision was influenced by general manager Monte McNair's desire to maintain roster flexibility and the team's recent selection of guard Tyrese Haliburton in the 2020 draft, Wojnarowski notes.

The Kings attempted to shop Bogdanovic earlier in the offseason to the Milwaukee Bucks, but the sign-and-trade agreement fell through. The NBA reportedly opened an investigation into the failed deal between the two clubs.

Bogdanovic averaged 15.1 points on 37% shooting from long range in 61 games last season. He becomes the latest offseason acquisition for a revamped Hawks team that already added Danilo Gallinari, Rajon Rondo, and Kris Dunn.