11:14pm: The Hawks' offer to Ferry is for six years, according to Chris Broussard of ESPN.com (via Twitter). Broussard notes that the lengthy offer strongly indicates that the club is no longer for sale.
2:44pm: The Hawks have officially offered their general manager position to Danny Ferry, according to Yahoo! Sports columnist Adrian Wojnarowski. No deal is complete as of now, but there is "progress towards an eventual agreement."
Ferry's last general manager position was in Cleveland, where he served from 2005 to 2010. After the Cavaliers let him go, Ferry went back to San Antonio (where he previously served as both a player and assistant general manager) to work as the Spurs vice president of basketball operations.
Ferry has also been speaking with the Sixers, but appears to prefer the job in Atlanta, where he'd replace current general manager Rick Sund who "had been leaning toward retirement or taking on an advisory role with his contract expiring after Thursday's NBA draft."