The New Orleans Pelicans have agreed to trade guards Jordan Hawkins and Micah Peavy, along with future draft assets, to the Memphis Grizzlies for AJ Johnson and Taj Gibson. This financial maneuver clears $5.7 million in salary cap space, a move directly aimed at finalizing a deal for restricted free agent Bennedict Mathurin. The Pelicans plan to waive veteran Taj Gibson immediately. This trade comes after a difficult finish to the 2025-26 campaign, where the team lost its final two games, including a 132-126 result against the Minnesota Timberwolves on April 13.
New Orleans sent out two recent draft picks. Jordan Hawkins was the 14th overall selection in the 2023 NBA Draft. The sharpshooter from Connecticut, who shot 38.8% from three in college, hasn't found a consistent NBA role yet. Micah Peavy was the 40th pick in 2025. He appeared in 61 games last season, averaging 4.3 points and 1.9 rebounds in 15 minutes per contest. His shooting splits were 38.5% from the field and 25.9% from deep. The Pelicans also included a future second-round pick and a second-round pick swap in the deal.
Both young players now join a rebuilding Memphis squad. They'll get a fresh opportunity with the Grizzlies, who traded Ja Morant and drafted Cameron Boozer third overall this summer. A change of scenery might be exactly what Hawkins and Peavy need to jumpstart their professional careers.
The primary driver is financial. Bobby Marks noted the transaction saves New Orleans $5.7 million. That creates the necessary cap room to sign Bennedict Mathurin, a dynamic scoring wing. Securing Mathurin is a significant offseason priority for a team looking to add firepower. The Pelicans' recent form highlighted a need for more consistent scoring. They ended last season with a 1-4 record in their final five games (LLWLL), suffering heavy defeats like a 144-118 loss to Boston on April 10.
While they had offensive explosions, such as a 156-137 win over Utah on April 8, defensive consistency was a problem. You can review the team's full schedule and results on our [fixtures](/fixtures) page. This trade is a clear signal the front office is aggressively reshaping the supporting cast around its core.
Immediate attention turns to finalizing Bennedict Mathurin's contract. Adding his offensive creation is a major boost. The incoming player from Memphis, AJ Johnson, will arrive for training camp. The 21-year-old guard, originally the 23rd pick in 2024, has already been with three teams. He averaged 3.3 points per game last season for Washington and Dallas, shooting 32.4% from the field. A strong camp could earn him a roster spot, but he faces an uphill battle.
Waiving Taj Gibson is a straightforward procedural move. The bigger picture involves integrating Mathurin and evaluating how the revised roster fits together. The Pelicans are banking on the financial flexibility from this trade paying immediate dividends on the court. After a playoff miss last season, the pressure is on to build a more competitive team. The front office has made its first calculated move of the late offseason.
