UPDATE: At 11 a.m. the Hawks held the press conference announcing free agent power forward Paul Milsap, not coveted targets Monta Ellis or Andrew Bynum, was the mystery man signed by the team.

“Paul was one of our top priorities entering the free agency process and we believe he is a great fit with the team and culture that we are trying to build,” Hawks General Manager/President of Basketball Operations Danny Ferry said in a statement.

Original story below:

The Atlanta Hawks will announce the signing of a free agent Wednesday at 11 a.m. Much media speculation suggests that it could be one or both of the Hawks two big free agent targets, Monta Ellis and Andrew Bynum.

The statement released by the team was particularly cryptic, stating:

“Atlanta Hawks President of Basketball Operations/General Manager Danny Ferry and a Hawks free agent signee will be available to the media on Wednesday, July 10 beginning at 11 a.m. The press conference will take place at the Philips Arena Business Zone.”

Bynum met with the Hawks in Atlanta on Tuesday, but was expected to meet with the Dallas Mavericks Wednesday. Ellis has not publicly announced a meeting with the Hawks. The 6’3 guard averaged 19.2 points, six assists and 3.9 rebounds for Milwaukee and has averaged 19.4 points, including a career-high 25.5 in 2009-10, in his eight-year career with the Golden State Warriors and Milwaukee Bucks.

Bynum, who missed all of the 2013 NBA season with knee problems, visited the Cleveland Cavaliers Monday and reportedly left with a two-year contract offer.

Wednesday is the first day free agents can sign contracts because of the NBA’s moratorium on new business. Power forward Paul Milsap also agreed to a deal with the Hawks during the free agency period that began on July 1 and the press release will likely also be used to announce his signing.

ESPN first reported that Bynum would be meeting with the Hawks on Monday and the meeting was confirmed by multiple sources.

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