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Jeff Teague drives past John Henson (Photo by Scott Cunningham/NBAE via Getty Images)

It took a while, but the first domino in the Hawks/Bucks point guard standoff has fallen.  Adrian Wojnarowski of Yahoo! Sports is reporting that Jeff Teague plans to sign an offer sheet with the Bucks.  Charles Garnder followed with a tweet that the deal has been signed.  The Hawks now have 72 hours to match.

It’s now the Hawks’ move.  If they don’t match the offer, they could also sign Brandon Jennings to an offer sheet, sign Monta Ellis outright, work out the details of a sign-and-trade with the Bucks, or some combination of the above.  It’s wide open.

In terms of price, the Bucks have set themselves up fairly well: they kept the price high enough for Teague to sign and high enough to make the Hawks a bit uncomfortable, but low enough that they won’t cripple their own financial situation for years to come. They may also need to amnesty Drew Gooden to create the cap room needed to pull off the deal.

On his end, Teague seemed to be pleased with the signing.

A longer comparison of Jennings, Teague, and their respective skill sets can be seen here.