The New Orleans Pelicans agreed to trade Jordan Hawkins, Micah Peavy, and future draft assets to the Memphis Grizzlies on Tuesday. In return, they received AJ Johnson and Taj Gibson, a move that frees up $5.7 million in cap space to finalize the signing of guard Bennedict Mathurin. The team's recent form, including a 132-126 loss to the Minnesota Timberwolves on April 13, 2026, and a 1-4 record in their last five games, shows a period of transition.
What did the Pelicans give up in the trade?
The Pelicans sent two former draft picks and future draft capital to Memphis. Jordan Hawkins, the 14th overall pick in 2023, showed early promise as a shooter. Over three seasons, he averaged 8 points and 2.3 rebounds while shooting 37.4 percent from the field and 34.8 percent from three-point range.
Micah Peavy, selected 40th overall in 2025, became a fan favorite for his defensive intensity. The on-ball stopper averaged 4.3 points and 1.9 rebounds in his rookie year. The deal also included a future second-round pick and a pick swap.
Why did New Orleans make this deal?
Financial flexibility was the primary goal. The trade creates $5.7 million in room below the NBA's first apron. This allows the Pelicans to complete the anticipated signing of former Clippers guard Bennedict Mathurin to a two-year, $16 million deal.
Moving Hawkins also generates a valuable $7 million trade exception for future roster moves. A team source indicated Taj Gibson and his non-guaranteed $3.8 million salary will likely be waived. You can track the evolving roster on our [squad](/squad) page.
What is the immediate impact for both teams?
For New Orleans, AJ Johnson will get a chance to prove himself in training camp. The focus shifts to integrating Mathurin and improving after a tough stretch where they lost their last two games. The team will look to build momentum ahead of a new season.
Memphis continues its rebuild by adding young perimeter prospects and draft compensation. Hawkins and Peavy join a young core, giving the Grizzlies more options for development. The trade was first reported by ESPN and confirmed by league sources to The Athletic. John Hollinger contributed to the original reporting.
