Pelicans sign Larry Nance Jr. to two-year, $21.6M extension

Nance went from Portland to New Orleans in the McCollum trade last February, after which he and Josh Hart famously swapped houses. He was a great bench piece for the Pels, playing 22 minutes per game in the playoffs and providing excellent defense. Now Nance is locked up through the 2024-25 season, joining valuable veterans McCollum, Brandon Ingram and Zion Williamson.

Nance spent the first few years of his career with the Los Angeles Lakers before joining the Cleveland Cavaliers at the 2018 trade deadline in time for their Finals run. He was traded to Portland in a three-way deal for Derrick Jones, Jr. before the 2021-22 season, and when the Blazers started trading away their veterans, Nance went to the Big Easy.

It's another move where the Pelicans have traded potential cap space for veteran certainty. They've got plenty of young players, and a lot of extra draft picks already, so they're firming up the veteran foundation. With "wrecking ball" Zion Williamson back, New Orleans is ready to make noise in the playoffs.