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found this on HoopsWorld.com:

"One of the rumors going around is that the Hawks could be interested in Hardaway. However, the Hawks do not have much to offer beyond the future salary cap space that Phoenix desires. The Hawks could ship Alan Henderson and Chris Crawford. Crawford basically comes with a coupon and Henderson would most likely leave after this season, thus freeing up substantial salary cap space. Bottom line, this is going to be an interesting summer."

Here is a deal tdhat works under the salary cap:

Hawks get:
Penny Hardaway

Suns get:
Henderson
Chris Crawford
Emanuel Davis


I believe this would be a good deal for both teams.

-It has been rumored that DerMarr Johnson has added an extra 15 pounds to his frame and might be ready to handle the SF spot fulltime. This would allow the Hawks to make a move a versatile 2G like Hardaway. Penny would be the perfect player to go alongside Jason Terry in the backcourt. Penny can handle the ball and run the offense so Terry can focus more on scoring.

-Phoenix already has their 2G of the future in Joe Johnson. They are looking for players with shorter contracts in return for Hardaway. They get that. Hardaway has 4 years left on his contract. Henderson and Crawford both have 3 years left and E-Davis has an expiring contract. Look for Tom Gugliotta or Bo Outlaw to be dealt if this deal goes down.
 

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I wouldn't want Ratliff because he is another over paid player who gets injured a lot.
 

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I like the trade. Any trade we do where we get rid of penny and get salary cap room is a good trade to me.
 

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But when is the last time Ratliff has been healthy? Everytime the Suns play atlanta its "the hawks miss Ratliff." When he is healthy, yes is he is awesome, but when is he healthy?
 

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That's actually an interesting trade that I think really helps both teams.

The Suns get his contract off the books, as well as having him off of the team... so he won't have to cry when Johnson and Jacobsen take away a lot of his minutes.

Meanwhile, Atlanta gets a guy that when healthy, is very talented, and is a great guy to play alongside Terry... if the injury-gods are kind to Atlanta, and Ratliff and Penny are healthy all season (very unlikely, I know), Atlanta can be a very good team.
 

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Penny is healthier more than ratliff.
 
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