The New Orleans Pelicans have overhauled their roster and front office ahead of the 2025-26 NBA season, completing a flurry of signings, trades and draft moves under newly hired executive Joe Dumars.
Key free-agent additions
Kevon Looney signed a two-year, $16 million deal using the non-taxpayer mid-level exception, with a team option for 2026-27. Guard Jaden Springer arrived on a one-year, non-guaranteed minimum contract (Exhibit 9).
Major trades
- New Orleans obtained the No. 23 pick in the 2025 draft and the rights to Mojave King from Indiana in exchange for the Pacers’ protected 2026 first-round pick, which the Pelicans had previously acquired.
- The club moved up in the draft, grabbing No. 13 selection Derik Queen from Atlanta for No. 23 choice Asa Newell and the more favorable of New Orleans’ or Milwaukee’s 2026 first-rounders.
- In a three-team deal, the Pelicans landed Jordan Poole, Saddiq Bey and No. 40 pick Micah Peavy. CJ McCollum, Kelly Olynyk, a 2027 Bulls second-rounder and King were shipped out, with McCollum and Olynyk going to Washington and King to Houston.
Draft class and contracts
- No. 7 – Jeremiah Fears: four years, $34.19 million rookie-scale deal.
- No. 13 – Derik Queen: four years, $24.36 million rookie-scale deal.
- No. 40 – Micah Peavy: four-year contract worth $8.69 million; first two seasons guaranteed, third year non-guaranteed, fourth-year team option.
Two-way agreements
Guards Trey Alexander, Hunter Dickinson and Bryce McGowens each accepted one-year two-way pacts with partial guarantees of $85,300 that rise to $318,218 once the regular season starts.
Departures
Free agents Brandon Boston Jr. (Fenerbahçe), Keion Brooks Jr., Bruce Brown (Nuggets), Jamal Cain (Magic), Elfrid Payton and Jeremiah Robinson-Earl are no longer on the roster.
Other roster moves
- Herbert Jones inked a three-year, $67.58 million veteran extension that begins in 2027-28 and includes a player option in the final season.
- Guards Antonio Reeves and Lester Quinones were waived.
Salary-cap snapshot
The Pelicans are operating over the $154.6 million cap but remain under the $187.9 million luxury-tax line, carrying roughly $183.7 million in salaries. The club is hard-capped at $195.945 million, still holds $6.1 million of the non-taxpayer MLE, possesses the full $5.13 million bi-annual exception, and controls three traded-player exceptions—the largest valued at $13.45 million.
What’s next?
New Orleans has 14 guaranteed contracts plus Springer on a non-guaranteed deal, leaving one standard roster spot open. With about $4.2 million of tax room, the team can add another veteran but could keep the slot vacant for flexibility. Health timelines for Dejounte Murray (Achilles), Jones and Trey Murphy III (shoulders) and Bey (ACL) may influence any late additions.
Dumars’ debut offseason follows six injury-plagued years under former head of basketball operations David Griffin. The new front office’s aggressive draft-night maneuvering left New Orleans without a 2026 first-round pick, signaling a win-now mindset despite last season’s 21-61 record. Head coach Willie Green, retained by Dumars, faces pressure to steer the revamped roster back into contention.
Source: Hoops Rumors
