Pelicans–Grizzlies Trade Clears Space for Bennedict Mathurin Deal as VanVleet Opts In

Pelicans Reshape Backcourt With Hawkins–Johnson Swap, VanVleet Opt-In Adds Further Shockwaves

The New Orleans Pelicans and Memphis Grizzlies have agreed to a multi-player deal that sends Jordan Hawkins and Micah Peavy to Memphis in exchange for AJ Johnson and Taj Gibson, a move aimed at clearing space for New Orleans to finalize a two-year, $16 million agreement with Bennedict Mathurin. The deal coincides with Fred VanVleet opting into his $25 million player option with the Houston Rockets, adding another significant domino to a busy guard market.

Inside the Pelicans–Grizzlies Trade

According to reporting from ESPN’s Shams Charania, the Pelicans are trading Jordan Hawkins, Micah Peavy, a future second-round pick and a future second-round pick swap to the Grizzlies for AJ Johnson and Taj Gibson. The move is described as a way for New Orleans to clear roster spots and salary flexibility in order to sign Bennedict Mathurin to a two-year, $16 million contract.

Hawkins, a recent first-round pick, heads to Memphis along with Peavy as the Grizzlies add shooting and depth while also taking on future draft capital. In return, New Orleans acquires Johnson, a young guard who was the No. 21 pick in the 2023 NBA draft, plus veteran big man Gibson.

The Pelicans’ calculus appears straightforward: by offloading Hawkins, Peavy and associated salary, they create room to bring in Mathurin on a meaningful mid-tier deal while maintaining flexibility. Johnson’s arrival at a lower price point gives New Orleans a chance to evaluate another young perimeter piece without the same financial commitment.

What It Means for New Orleans