The New Orleans Pelicans have reshaped their roster through free agency and a key trade during the 2026 NBA offseason, headlined by the acquisition of guard Bennedict Mathurin. This activity follows a tough end to the previous campaign, where the team lost four of its final five games, including a 132-126 defeat to the Minnesota Timberwolves on April 13. The front office has been busy adding depth and making financial maneuvers to position the team for the upcoming season.
The Pelicans made their biggest splash by signing Bennedict Mathurin to a two-year, $15.375 million deal using the non-taxpayer mid-level exception. Mathurin gets a player option for the second year. In a notable September trade, New Orleans acquired AJ Johnson and Taj Gibson from the Memphis Grizzlies, sending out Jordan Hawkins, Micah Peavy, and future second-round draft capital.
They also secured veteran center DeAndre Jordan on a two-year minimum deal and brought back Saddiq Bey on a significant three-year, $55.5 million extension that kicks in for the 2027-28 season. The draft saw them select Jaron Pierre Jr. With the 58th overall pick, signing him to a two-way contract alongside Malik Dia.
New Orleans is operating over the salary cap but remains below the punitive first tax apron. Their team salary sits at approximately $196.4 million for tax purposes, leaving them about $4.1 million under the luxury tax line. This careful positioning gives them some flexibility.
They still have access to the full $5.5 million bi-annual exception and two traded player exceptions, the largest being worth $7 million. The front office has managed to stay hard-capped at the first apron while retaining tools for potential in-season adjustments.
A wave of minimum-salary signings for training camp included names like Trendon Watford, Kobe Bufkin, and Christian Koloko. Many of those, including Aziz Bandaogo and Solomon Washington, were later waived. The team also parted ways with several players from last season.
Free agents Trey Alexander (Utah Jazz), Kevon Looney (Los Angeles Lakers), and Josh Oduro (Australia) departed. The Pelicans exercised a team option on Karlo Matkovic and made a series of procedural moves with two-way contracts, re-signing and then waiving Hunter Dickinson.
With the core roster largely set, attention turns to integrating new pieces like Mathurin and AJ Johnson into the rotation. The team's recent form, a 1-4 record in their last five games, highlights areas that need addressing before the new season tips off.
The front office still possesses those remaining exceptions, which could be used to address specific needs that arise. How the young players on two-way deals develop will also be important for depth. After a quiet start to the summer, the Pelicans' late flurry of activity has given them a different look as they prepare to improve upon last season's finish.
