Pelicans land Bennedict Mathurin on 2-year, $16M deal

This one was a sign-and-escape more than a sign-and-trade, and Shams laid out the whole mechanism.

Shams Charania

@ShamsCharania

Bennedict Mathurin has agreed to a two-year, $16 million deal with the New Orleans Pelicans, including a player option, sources tell ESPN. Mathurin’s reps approached the Clippers about withdrawing his $8.8M qualifying offer, effectively turning the QO into a more favorable situation in New Orleans with added security. Mathurin prioritized flexibility and the earliest path to unrestricted free agency next summer versus longer term offers with larger total commitments but greater team control.

Here's the trick. Mathurin was a restricted free agent sitting on an $8.8 million qualifying offer from the Clippers. Signing that QO gets you 1 year and then unrestricted free agency, but with zero security. His camp asked LA to pull the QO and then took basically the same money from New Orleans, plus a second year he controls. Mathurin reportedly passed on longer offers from the Bulls, Bucks and Mavericks to get it. It's the QO with a safety net, and it was a sharp move by his reps.

He has earned the right to bet on himself. The 6th overall pick in 2022 out of Arizona spent 3-and-a-half seasons in Indiana before going to the Clippers in the Ivica Zubac blockbuster at the February deadline. Across 54 games with both teams last season he put up career highs of 17.6 points, 5.4 rebounds and 2.4 assists, and his 17.5 points a night off the bench led the NBA. Jake Fischer reported New Orleans had been the Mathurin team since before that deadline, and ESPN says the Pelicans chased him for over a year.

Jake Fischer

@JakeLFischer

But, yeah, NOLA has been the Bennedict Mathurin team since before February’s trade deadline. Said yesterday on @BleacherReport Chicago wasn’t factoring into his free agency. But I believe the Bulls are involved in Jonathan Kuminga’s process to a real degree, in addition to Lakers, Wolves.

The catch was the money. The Pelicans were already close to the tax before Mathurin, and Bobby Marks said right away that something else had to go.

Bobby Marks

@BobbyMarks42

I would expect a corresponding move(s) as it relates to New Orleans signing Bennedict Mathurin. The Pelicans pre-signing are $5.7M below the tax and $7.4M (unlikely bonuses count) under the first apron.

That move happened. Before the deal went official on September 10, New Orleans sent Jordan Hawkins, Micah Peavy, a 2nd-round pick and a 2nd-round swap to Memphis for AJ Johnson and Taj Gibson, then waived Gibson, who was only in the deal to make the salaries work. Clear room, sign the wing, stay under the tax. That's the cap math Marks was flagging.

So what does the roster look like now? The internet's preseason optimism was loud, but Polymarket wasn't buying it.

Legion Hoops

@LegionHoops

The Pelicans might shock the league this season. This is a solid squad: Dejounte Murray Bennedict Mathurin Herb Jones Trey Murphy III Zion Williamson Derik Queen Jeremiah Fears Jordan Poole Saddiq Bey Yves Missi Jordan Hawkins With only a 13% chance to make the playoffs — Traders on Polymarket are definitely sleeping on New Orleans. 👀

Take Hawkins off that list, since he's a Grizzly now, and it's still a real rotation: Zion Williamson, Trey Murphy III, Herb Jones, Dejounte Murray, Derik Queen and Jeremiah Fears, with Mathurin as the bench bucket-getter. Calling 13% 'sleeping on them' is a fan's take, not analysis, but it's not crazy either. If Zion stays on the floor, this team has more shot creation than it's had in years.

The bigger question is next summer. Because of that player option, Mathurin can opt out and hit the open market after 1 year in New Orleans. If he keeps scoring like he did last year, the Pelicans will have to pay him again or watch the guy they chased for a year walk. For now, he's a 24-year-old scorer on a cheap deal, and the Pelicans didn't go over the tax to get him.