The Atlanta Hawks have agreed to a buyout with Danny Ferry with Mike Budenholzer assuming the role of head of basketball operations.

Assistant general manager Wes Wilcox will be elevated to general manager, sources said.

With Ferry, Wilcox was instrumental in constructing an innovative roster that achieved at a high level despite still staying several million dollars below the salary cap. Wilcox has been a front office executive under Ferry with the Hawks and Cleveland Cavaliers.

Ferry was placed on paid leave following the release of a racially insensitive audio tape.

Ferry has gathered support from key decision-makers around the NBA and most expect that he’ll work again soon in a front-office capacity.

Ferry has impressed people inside and outside the Hawks organization over the past few months with his contrition over the insensitive comments about Luol Deng from a team scouting report.