The Atlanta Hawks have reportedly reached an agreement for a buy-out of the final two years of general manager Danny Ferry's contract.

Ferry has been on indefinite leave at the Hawks after being embroiled in a controversy over racially derogatory comments made last year, with The AP now suggesting that a source has stated that the two parties have reached an agreement that will see Ferry depart.

The same report proposes that the Hawks could make an official announcement about the buy-out before next week's NBA Draft.

GM Ferry joined the Hawks from the San Antonio Spurs in 2012.