The Pelicans needed a cheaper roster to complete their reported two-year, $16 million agreement with Bennedict Mathurin. Tuesday’s trade with Memphis clears that financial path, but the room comes at the cost of Jordan Hawkins, Micah Peavy and future draft assets. FOX 8
The teams completed the deal on September 8. NBA.com The terms, reported by ESPN’s Shams Charania, send two players and draft compensation to Memphis for AJ Johnson and Taj Gibson. The second-round swap gives Memphis an exchange right, separate from the additional second-round selection. ESPN
| Memphis receives | New Orleans receives |
|---|---|
| Jordan Hawkins | AJ Johnson |
| Micah Peavy | Taj Gibson |
| A future second-round pick | |
| A future second-round pick swap |
Gibson’s contract is key to making the finances work. His deal was not fully guaranteed, allowing New Orleans to remove close to $3.8 million in salary by cutting him. Any guaranteed money would still count against the Pelicans; waiving him would not erase the entire contract. Associated Press
New Orleans needs those savings because of how it plans to sign Mathurin. Salary-cap analyst Yossi Gozlan reported that the Pelicans intend to use part of their non-taxpayer mid-level exception. The proposed salary exceeds the smaller taxpayer portion, so the signing would impose a first-apron hard cap. Third Apron
The exception allows New Orleans to sign a player while operating above the salary cap, but the hard cap would limit its total apron payroll for the rest of the salary-cap year. The Pelicans must fit Mathurin beneath that ceiling when they sign him and stay beneath it afterward. Their August agreement therefore required a reduction in existing commitments before they could add his salary.
Will Guillory of The Athletic reported that New Orleans plans to waive Gibson and evaluate Johnson during training camp, according to Hoops Wire. The same report, citing Hoops Rumors’ Luke Adams, puts the transaction’s savings at nearly $5.8 million. Those figures and plans do not confirm that the subsequent moves have been completed. Hoops Wire
The basketball cost is clearer. Hawkins leaves New Orleans after 174 games in which he averaged 8.0 points. Peavy averaged 4.3 points over 61 appearances as a rookie. FOX 8 The Pelicans are giving up the chance to develop both players further, plus draft assets they could otherwise use in a later trade.
Mathurin averaged 17.6 points, 5.4 rebounds and 2.4 assists in 54 games last season. NBA.com That is a more substantial recent scoring record than New Orleans received from either departing player, though it does not guarantee the same production with the Pelicans. By concentrating opportunity in Mathurin, they are betting he can improve their wing rotation enough to justify surrendering several alternatives.
Memphis gets those development chances along with draft compensation. Hawkins and Peavy can compete for places, while the pick and swap retain potential value regardless of how either player performs. The Grizzlies have accepted the payroll and roster costs of taking them on to acquire that package.
New Orleans still has to complete Mathurin’s signing, resolve Gibson’s status and decide whether Johnson earns a place. Once the season begins, the return will depend on how much useful scoring Mathurin supplies—and whether it outweighs the depth and future options the Pelicans spent to bring him in.
Fan reactions
Fan Thread
1 comment from readers.
Consolidating those minutes into Mathurin makes sense if they have a clear scoring role for him. The part I want to see is who shares the floor with him and handles the other jobs. Paying assets to add a scorer, then needing him to fill whatever holes the lineup has that night, is how an upgrade gets stretched into another awkward fit.