Atlanta and Washington exchanged starting-caliber players and 1977 first-round picks on January 20, 1977. The Hawks received Truck Robinson and the pick that became No. 14 Tree Rollins; the Bullets received Tom Henderson and the pick that became No. 4 Greg Ballard. Robinson was immediately excellent for Atlanta, averaging 22.4 points and 12.8 rebounds in 36 games, while Rollins became a long-term Hawks center, later leading the NBA in blocks and earning two All-Defensive selections. Washington's return was just as durable and carried championship value. Henderson played 186 regular-season games for the Bullets, including their 1978 title season, and Ballard played 643 Washington games across eight seasons after joining that championship roster as a rookie. Henderson's 1979 free-agent departure also returned a 1980 first-round pick as compensation. Washington gets a narrow hindsight edge because both incoming assets contributed to a championship core and produced another first-round asset.
Basketball-Reference's Atlanta, Washington and league transaction ledgers agree on the January 20, 1977 structure. Atlanta sent Tom Henderson and its 1977 first-round pick to Washington for Truck Robinson and Washington's 1977 first-round pick. The Bullets' incoming pick became No. 4 Greg Ballard. Atlanta's incoming pick became No. 14 Tree Rollins.
Robinson played 36 games for the Hawks after the trade and produced star-level numbers: 806 points and 462 rebounds, or 22.4 points and 12.8 rebounds per game. He did not remain in Atlanta after the season. New Orleans signed Robinson as a veteran free agent in August 1977, and the Hawks received Ron Behagen and cash as compensation. That gives Atlanta both a high-end half-season and a legitimate downstream return.
The No. 14 pick became Tree Rollins, whose value dwarfed a typical mid-first-round outcome. Rollins spent eleven seasons with Atlanta, developed into one of the league's premier shot blockers, led the NBA in blocks in 1982-83 and earned two All-Defensive selections. The trade therefore gave the Hawks both immediate star production from Robinson and a durable defensive center from the pick.
Henderson played 41 games for Washington after the trade in 1976-77, then 75 games in 1977-78 and 70 in 1978-79. That is 186 regular-season games for the Bullets. More important than the raw total, he played 21 postseason games during Washington's 1978 championship run and averaged 9.6 points and 5.0 assists in those playoffs. His contribution was not merely regular-season depth.
Washington used the No. 4 pick on Greg Ballard. He played 76 games as a rookie on the 1978 championship team and remained with the franchise through 1984-85. Across eight Washington seasons he appeared in 643 regular-season games, growing from a reserve into a full-time starting forward and double-figure scorer. The pick produced far more than a short rookie-contract contribution.
Houston signed Henderson as a veteran free agent in July 1979. Under the compensation rules of the era, Washington received a 1980 first-round pick that became No. 14 Wes Matthews. This review credits that specific compensation because it was directly tied to Henderson's departure, while avoiding any unrelated later asset chains.
Bullets Edge, A+/A. Atlanta receives an A because Robinson delivered an elite half-season, Rollins became a long-term defensive anchor, and Robinson's departure produced compensation. Washington receives an A+ because Henderson and Ballard both contributed to the 1978 championship, Ballard supplied eight seasons and 643 games, and Henderson later generated another first-round pick. This is a high-value trade for both teams; Washington's championship impact and extra draft return create only a narrow hindsight advantage. Confidence is high on the package, draft identities and realized outcomes.