Pelicans complete trade with Grizzlies, clearing way for Bennedict Mathurin

Well, that didn’t take long.

We wrote Monday night that the Pelicans needed to make a cost-cutting move before they could officially sign Bennedict Mathurin.

On Tuesday, they made it. New Orleans has officially traded 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 teams announced.

More importantly for the Pelicans, the deal creates the financial room needed to complete their two-year, $16 million agreement with Mathurin.

As Luke Adams of Hoops Rumors explained, New Orleans should save nearly $5.8 million in the trade, allowing it to sign Mathurin without crossing the luxury-tax line or the first tax apron. Mathurin’s contract will hard-cap the Pelicans at the first apron for the season.

Gibson isn’t expected to stick around. New Orleans will waive the 41-year-old big man, per Will Guillory of The Athletic.

Johnson, meanwhile, is expected to remain through training camp, giving the Pelicans a chance to determine whether the 2024 first-round pick might have a place on the roster.

Hawkins, the No. 14 pick in 2023, heads to Memphis after averaging 5.1 points in 51 games last season. Peavy averaged 4.3 points as a rookie.

But this was mostly about Mathurin. The Pelicans agreed to terms with him on Aug. 26 and then had to figure out how to make the money work.

Now they have. So unless there’s another surprise lurking in the fine print, Mathurin should finally be next.