Pelicans Decline Option on Herb Jones in Possible Deal Precursor

According to numerous news reports out of New Orleans, the Pelicans have notified former Alabama basketball standout Herb Jones that they're declining the team option on his contract, which was worth $1.8 million. 

While on face value it appears to be not great news for Jones, who becomes a restricted free agent with "Early Bird" rights, with the team having the right of first refusal of any offer he receives, it's probably the opposite. The move clears the way for the team to work out a long-term deal, which the Pelicans appear to be trying to do.  

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. 

After Jones was drafted he signed for three years and approximately $5.4 million, with the third year being the team option. The "Early Bird" rights is on of the 11 types of salary cap exceptions available to NBA teams.

Per the NBA: "A team may re-sign its own free agent to a contract with a first-year salary of up to the greater of (a) 175 percent of the player’s salary in the last season of his prior contract, or (b) 105 percent of the average player salary for the prior season, if he played for the team for some or all of each of the prior two consecutive seasons (or, if he changed teams, he did so by trade or by assignment via the NBA’s waiver procedures). A contract signed using the Early Bird Exception must be for at least two seasons (not including any option year)."

According to ESPN's Bobby Marks, the maximum contract the Pelicans could extend Jones is a four-year deal worth $53.3 million.

The Athletic first reported New Orleans was going to decline the option on Jones, meeting a June 29th deadline. Free agency begins Friday and the Pelicans are thought to be considering making some major moves, including through trades. 

The Jones move was one of many that the Pelicans made, including exercising the $1.93 million option on Naji Marshall, declining the $2.6 million team option on center Willy Hernangómez, and declining to extend a qualifying offer to center Jaxson Hayes, which would have been for $7.7 million.

SEE ALSO: Alabama Basketball Roster Tracker: 2023 Offseason