Pelicans-Grizzlies Trade Clears Path for Bennedict Mathurin Signing
The New Orleans Pelicans made a significant roster move this week, completing a trade with the Memphis Grizzlies that created the financial flexibility needed to bring in former Indiana Pacers and LA Clippers guard Bennedict Mathurin.
New Orleans sent Jordan Hawkins, Micah Peavy, a future second-round pick and a future second-round pick swap to Memphis in exchange for veteran forward Taj Gibson and guard A.J. Johnson. The deal was officially completed on September 8.
The move was primarily about creating enough financial room for Mathurin’s contract while keeping the Pelicans below the NBA’s first-apron restrictions.
Pelicans Needed Financial Flexibility
New Orleans had already agreed to terms with Mathurin on a two-year, $16 million contract, but the team needed to make additional roster and salary adjustments before the agreement could officially be completed.
The trade with Memphis provided that flexibility, saving the Pelicans roughly $6 million and leaving them comfortably below the first apron.
The Pelicans subsequently waived Taj Gibson, removing another roster spot and completing the final step toward bringing Mathurin aboard.
Bennedict Mathurin Is Officially a Pelican
The move ultimately delivered the outcome New Orleans wanted.
On September 11, the Pelicans officially signed Mathurin to a two-year, $16 million contract that includes a player option.
Mathurin, the sixth overall pick in the 2022 NBA Draft, averaged 17.6 points, 5.4 rebounds and 2.4 assists in 54 games during the 2025-26 season, splitting the campaign between the Indiana Pacers and Clippers.
He also showed his scoring potential during the Clippers’ stretch run, tying his career high with 38 points in his debut for Los Angeles.
What Memphis Gets
For Memphis, the trade represents a low-cost opportunity to add two younger players and future draft capital.
Jordan Hawkins, selected No. 14 overall by New Orleans in 2023, averaged 5.1 points and 1.7 rebounds in 51 games last season. His best NBA season came as a rookie, when he demonstrated the three-point shooting ability that made him a lottery pick.
Micah Peavy averaged 4.3 points and 1.9 rebounds during his rookie season. The Grizzlies also received a future second-round selection and a future second-round pick swap as part of the transaction.
Taj Gibson’s Stay in New Orleans Was Short
Gibson’s role in the trade was primarily financial.
The 41-year-old veteran had played 17 NBA seasons and brought extensive experience, but New Orleans waived him the following day. Gibson had averaged 3.4 points and 2.7 rebounds in 10 games for Memphis during the 2025-26 season.
A.J. Johnson, meanwhile, gives the Pelicans a younger developmental option.
The 21-year-old guard was originally selected 23rd overall by Milwaukee in the 2024 NBA Draft and averaged 3.3 points in 48 games for Washington and Dallas last season.
Why Mathurin Matters for New Orleans
Mathurin gives the Pelicans another proven scoring option on the wing.
At his best, the 6-foot-5 guard can attack the basket, draw fouls and provide scoring punch off the bench. His ability to create offense could be particularly valuable for a New Orleans team looking to build a deeper and more versatile rotation.
His arrival also represents a fresh start after his move away from Indiana.
Mathurin spent his first three-and-a-half NBA seasons with the Pacers before being traded to the Clippers in February 2026. He was part of Indiana’s 2024-25 team that reached the NBA Finals and scored a playoff career-high 27 points during that postseason run.
A Trade Driven by One Objective
The Pelicans-Grizzlies transaction may look complicated on paper, but its primary purpose was straightforward: create the financial room to make the Mathurin signing work.
New Orleans gave up Hawkins, Peavy and future draft assets to achieve that goal. Memphis, meanwhile, turned available financial flexibility into young players and additional draft capital.
With Mathurin now officially under contract, the Pelicans have completed the larger roster maneuver they were working toward.
For New Orleans, the next question is whether Mathurin can turn the financial investment into consistent production and become a significant part of the team’s long-term core.