The 29-year-old tore his right patellar tendon in the first game of the 2017-18 season and missed the rest of the year.
Brooklyn has traded Jeremy Lin to the Hawks, league sources tell ESPN.
The Nets will acquire Kenneth Faried, Darrell Arthur, a protected 2019 first round pick and a future second round pick from the Denver Nuggets.
Lin will be entering his ninth season in the National Basketball Association next fall, and the Hawks mark the 6-foot-3 point guard's sixth team. According to the report, the Hawks will send the Nets a 2020 second-round pick originally from Portland and the rights to 2016 second-round pick Isaia Cordinier, who to date has remained in his native France.
The two teams will also exchange future second-round picks in the deal, according to ESPN.
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The Hawks will be the seventh team for Lin, the undrafted former Harvard star who memorably broke out with the Knicks during his run of Linsanity in February 2012.
The trade with the Nuggets was a salary dump for Denver.
Faried and Arthur both saw minimal time in Denver last season with Faried playing just 14.4 minutes per game in 32 contests and Arthur getting 7.4 minutes per night in 19 games.
An eight-year veteran, Lin has career averages of 12.0 points, 4.5 assists and 2.9 rebounds.