Former Alabama standout Herb Jones lands lucrative contract with Pelicans

One day after the New Orleans Pelicans declined the third-year option for a minimum salary, the team locked down former Alabama basketball standout Herb Jones with a longterm deal. 

Per ESPN, Jones has agreed on a new four-year, $54 million deal to stay with the team. Senior NBA writer Adrian Wojnarowski credited his agents, Mark Bartelstein and Kieran Piller of @PrioritySports as his source for the report. 

The option year was worth just $1.8 million, and would have been the last of his initial deal for approximately $5.4 million after being selected in the second round of the NBA Draft. 

Declining the option made Jones a restricted free agent with "Early Bird" rights, with the team having the right of first refusal of any offer he received. However, it was a necessary move that had to be made in order to make the longterm deal. 

Per NBA rules, Jones will essentially get the maximum the team could offer given the circumstances. The "Early Bird" rights is one of the 11 types of salary cap exceptions available to NBA teams. Teams could start negotiating contracts with players on 5 p.m. CT, officially kicking off the start of free agency.

Jones, who was a second-round pick in 2021, has started 135 games over the last two seasons and averaged 9.7 points. The 24-year-old narrowly missed making an all-defensive team his rookie season, and his shooting saw a significant improvement after the All-Star Game last season. 

SEE ALSO: Pelicans Decline Option on Herb Jones in Possible Deal Precursor