Pelicans offseason primer: Herb Jones extension, Brandon Ingram, more
The 2022-23 New Orleans Pelicans season went from incredibly exciting to downright disappointing. It all started with the return of Zion Williamson, who missed all of last season, re-joining a Pelicans team that made a late push to the 2022 playoffs. The Pelicans started the season 23-14 led by Williamson who was playing like an All-NBA lock. They were on track to return to the playoffs and lock up homecourt advantage in the first round.
Then Williamson suffered a hamstring injury from which he would not return this season. The Pelicans plummeted in his absence and finished the season 19-26, falling all the way down to the play-in tournament, then elimination. The team is clearly well-equipped to win many games, they just need their star player to stay on the court. With Williamson only having played 37 percent of Pelicans’ regular season games in his short career, at what point does his unavailability become a major concern?
The Pelicans are going into the offseason with their roster mostly set. They still have a surplus of picks that could be used in a consolidation trade or to continue replenishing depth in a new CBA that poses more roster-building challenges. They also have several key players that are extension-eligible that they will look to take care of.
Here is a preview of the 2023 offseason for the New Orleans Pelicans.
State of the roster and how the new CBA affects them
(Photo by Nathaniel S. Butler/NBAE via Getty Images)
The Pelicans are entering the 2023 offseason with nearly a full roster for the second year in a row. They have 14 players under contract, including their first-round pick for this year, and are projected to be right at the $162 million luxury tax line. Their sole addition to a standard contract last season was the drafting and signing of Dyson Daniels, and it’s possible they have a similarly quiet summer.
The 2023-24 season could be the last one in which the Pelicans are able to stay under the luxury tax with this core. Zion Williamson, Brandon Ingram, and CJ McCollum are all set to earn between $33-36 million over the next two seasons, taking up a substantial percentage of their space below the tax. Herb Jones will be the next player due for a significant raise. His next contract, as well as a potential new contract for Jonas Valanciunas or a different starting center, could push the Pelicans over the tax starting in 2024-25.
It would make sense for New Orleans to avoid the luxury tax for one more season in order to delay the repeater tax. And they have the luxury of doing that considering they already have their rotation nearly set for next season. The one move we can expect to see is the Pelicans waiving Garrett Temple, whose $5.4 million salary is non-guaranteed. This would give the Pelicans a little over $5 million in space below the tax, enough room to fill out their last two roster spots.
The Pelicans are in an advantageous situation heading into the new CBA. The addition of the second apron will restrict teams above it from increasing their payroll other than re-signing their own players, signing draft picks, and minimum players. With their payroll already hovering around the tax and with more players due for new contracts soon, they could be in a position to have a payroll above the second apron soon.
Fortunately for them, they’re already loaded with talented young players on rookie contracts like Jones, Trey Murphy III, and Jose Alvarado, giving them enough depth to operate within the second apron restrictions. And if they need to reshuffle the deck, they have all their own draft picks as well as two additional ones owed from other teams. This gives them plenty of opportunities to replenish their roster, which could help extend their competitive window. They just need to make the commitment to spend.
Free agents and final roster spots
Derick E. Hingle-USA TODAY Sports
The Pelicans’ two primary free agents are Jaxson Hayes and Josh Richardson. Hayes, the former eighth overall selection, did not live up to the selection but still projects to be a solid backup big man in the league. He played a big part in helping the Pelicans make the playoffs last season but saw his role marginalized this year with the return of Williamson and Larry Nance Jr.
New Orleans can make Hayes a restricted free agent if they tender him a $7.7 million qualifying offer, but that seems unlikely given their proximity to the tax. That amount may be well above his market with recent big men like JaVale McGee, Nick Richards, Andre Drummond all receiving less than that recently. It seems like a good bet that the Pelicans will let Hayes become an unrestricted free agent instead of risking him accepting his qualifying offer.
The Pelicans acquired Richardson at the trade deadline in exchange for Devonte Graham and five second-round picks. The main motivation for them making this deal is getting off Graham’s $12.1 million salary for next season, but Richardson has been a regular part of the rotation averaging over 20 minutes per game. They could be open to re-signing him but might not prioritize him if his market is stronger than their budget allows. It’s possible he receives an offer for most or all of the mid-level exception after guard/forwards like Gary Harris, Gary Payton II, Pat Connaughton, and the Martin twins all received as much.
If the Pelicans want to re-sign Richardson or sign a player as talented as him while avoiding the tax, they may need to make another cost-cutting move. That could include reducing payroll through a trade or cutting another player or two on a non-guaranteed contract. They are projected to have access to the non-taxpayer mid-level exception but may not utilize the full amount if it takes them over the tax. They will likely fill their last two roster spots with minimum signings if they don’t sign anyone with the MLE.
Extensions
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The Pelicans have a handful of players that are extension-eligible this summer, with Herb Jones being the most pressing one. The second-year forward is already one of the best perimeter defenders in the league with the potential to earn a couple of All-Defense teams in his career. His shooting still remains an issue after seeing his efficiency decline from last season, but he’s a good play-finisher and an underrated passer and playmaker. Jones is one of the biggest bargains in the league earning a minimum salary in his first three years.
Jones is due for a significant raise and the new extension rules help increase the chances he agrees to one with the Pelicans. The new CBA will increase the first-year salary increase in extensions from a maximum of 120 percent to 140 percent off the previous season. This applies to the veteran extension maximum, which is now projected at four years, $75 million. That is an increase north of $10 million in the overall extension total than the previous extension rules allowed.
Will four years, $75 million be enough to lock up Jones now? It’s possible when comparing that figure to recent second contracts for the league’s top wing defenders. It’s more than the four years, $55.6 million Dorian Finney-Smith got, on par with OG Anunoby’s four years, $72 million, and less than Mikal Bridges’ four years, $90 million. $18 million annually is sound in relation to his peers and how much the salary cap has increased over the years. If no extension materializes, he could earn more when he becomes a restricted free agent in 2024.
Brandon Ingram will be extension-eligible during the offseason but can only add a maximum of three seasons. Also, he still has supermax eligibility remaining for one more season. If he meets the criteria by earning All-NBA honors next season, he would be eligible to extend next summer for up to five years, projected at a maximum of $285 million. He seems more likely to play next year out since extending ahead of time would forego his supermax eligibility.
Jonas Valanciunas will also become extension-eligible starting on October 1, but it’s unclear where he fits in New Orleans’ long-term plans. He is set to enter his age-32 season next year and his defensive limitations keep him from regularly closing games. If the Pelicans don’t view him as part of their future, his $15.4 million salary can be the centerpiece of a trade that brings in a new starting center.
2023-24 SALARY SITUATION
Players rostered: 14
Guaranteed salaries: $148.1
Non-guaranteed salaries: $13.5 million
Total salary: $161.6 million
Luxury tax space: $378,600
Apron space: $7.9 million
Second apron space: $17.9 million
Spending power:
Taxpayer mid-level exception: $5 million
CJ McCollum
John E. Sokolowski-USA TODAY Sports
2023-24 salary: $35,802,469
Remaining salary guaranteed: $99,802,469 through 2025-26
Brandon Ingram
Andrew Wevers-USA TODAY Sports
2023-24 salary: $33,833,400
Remaining salary guaranteed: $69,849,600 through 2024-25
Additional notes:
15 percent trade bonus currently worth $10.5 million
Zion Williamson
Scott Wachter-USA TODAY Sports
2023-24 salary: $33,500,000
Remaining salary guaranteed: $194,300,000 through 2027-28
Additional notes:
Contract contains several guarantee triggers for weigh-ins
Jonas Valanciunas
Larry Robinson-USA TODAY Sports
2023-24 salary: $15,435,000
Remaining salary guaranteed: $15,435,000
Additional notes:
Trade bonus worth lesser of 15 percent or $1 million (currently worth $1 million)
Extension-eligible starting on October 1 for up to four years, 96.8 million
Stephen Lew-USA TODAY Sports
2023-24 salary: $10,375,000
Remaining salary guaranteed: $21,580,000 through 2024-25
Dyson Daniels
Stephen Lew-USA TODAY Sports
2023-24 salary: $5,784,120
Remaining salary guaranteed: $19,551,349 through 2025-26
Chuck Cook-USA TODAY Sports
2023-24 salary: $5,722,116
Remaining salary guaranteed: $5,722,116
Additional notes:
Eligible to sign a rookie-scale extension starting this offseason through the day before the regular season begins for up to a five years
Garrett Temple
Daniel Dunn-USA TODAY Sports
2023-24 salary: $5,401,000
Remaining salary guaranteed: $0
Additional notes:
2023-24 salary is non-guaranteed. Fully guaranteed if not waived by June 30
Extension-eligible throughout 2023-24
Trey Murphy III
Kyle Terada-USA TODAY Sports
2023-24 salary: $3,359,280
Remaining salary guaranteed: $8,519,135 through 2024-25
Andrew Wevers-USA TODAY Sports
2023-24 salary: $2,559,942 (team option)
Remaining salary guaranteed: $0
Additional notes:
Extension-eligible throughout 2023-24
Naji Marshall
2023-24 salary: $1,930,681 (team option)
Remaining salary guaranteed: $0
Additional notes:
Extension-eligible throughout 2023-24
Jose Alvarado
Stephen Lew-USA TODAY Sports
2023-24 salary: $1,836,096
Remaining salary guaranteed: $0
Additional notes:
2024-25 salary is a non-guaranteed team option
Herb Jones
Stephen Lew-USA TODAY Sports
2023-24 salary: $1,836,096 (team option)
Remaining salary guaranteed: $0
Additional notes:
Extension-eligible throughout 2023-24 for up to four years, projected at $75 million
EJ Liddell
Two-way contract: Year 2
Dereon Seabron
Two-way contract: Year 2
Jaxson Hayes
Stephen Lew-USA TODAY Sports
Cap hold: $20,409,036
Type of free agent: Bird (restricted)
Additional notes:
Qualifying offer: $7,744,600
Josh Richardson
Cap hold: $18,394,141
Type of free agent: Bird (unrestricted)
2023 Pick No. 14
2023-24 salary: $4,246,200
Remaining salary guaranteed: $20,293,013 through 2026-27
Additional notes: HoopsHype and ForTheWin’s draft expert Bryan Kalbrosky has Leonard Miller being selected with the 10th overall selection in his most recent mock draft.
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