Atlanta, GA -- (Sports Network) - Restricted free agent forward Josh Smith has signed a five-year, $58 million offer sheet with the Memphis Grizzlies, as reported by the Atlanta Journal-Constitution on Friday.

The Atlanta Hawks have claimed all summer that they would match any contract offer the Georgia native received. They have seven days to make good on that promise, or Smith, whom Atlanta selected 17th overall in the 2004 draft, becomes a member of the Grizzlies.

Smith, 22, is coming off a career year in which he averaged 17.2 points, 8.2 rebounds, 3.4 assists and 2.8 blocks in 81 games for the Hawks, who made the playoffs for the first time since the 1998-99 campaign, and pushed the eventual NBA champion-Celtics to seven games in the first round of the playoffs.

In four seasons with Atlanta Smith has averaged 13.6 points, 7.4 rebounds and 2.6 blocks in 307 games.

The Hawks already lost the services of Josh Childress this offseason, when the forward agreed to play overseas by signing a three-year, $20 million contract with the Greek franchise Olympiakos.