Kelly Oubre, Hornets agree to two-year deal worth more than $26M

The Hornets and free-agent wing Kelly Oubre are in agreement on a two-year deal that will be worth more than $26M, sources tell Shams Charania of The Athletic.

David Aldridge of The Athletic reported earlier on Thursday that the Hornets and Oubre had engaged in discussions, while Chris Haynes of Yahoo Sports was first to report that the two sides were finalizing a multiyear deal expected to exceed $12M per year.

Charlotte, one of the only NBA teams that still had the cap room necessary to make an offer worth more than the full mid-level exception ($9.5M), had also reportedly been mulling an offer sheet for Lauri Markkanen.

However, the Hornets’ agreement with Oubre will eat up most — if not all — of their remaining cap room, presumably eliminating their ability to make an aggressive bid for the Bulls‘ restricted free-agent forward. There’s some positional overlap there too, as Oubre will likely see plenty of action at the 4 in Charlotte.

Oubre, 25, has spent time with the Wizards, Suns and Warriors since entering the league as the 15th overall pick in the 2015 draft. In 2020-21, he averaged 15.4 points and 6.0 rebounds on .439/.316/.695 shooting in 55 games (30.7 minutes) for Golden State.

While Oubre possesses good size and athleticism for a three-and-D wing, his three-point shot has been inconsistent over the course of his career (32.6%).

Charlotte will be hoping to get the 2019-20 version of Oubre, who averaged 18.7 points per game with a .352 three-point percentage for the Suns. The former Kansas Jayhawk will join a talented group of Hornets forwards that includes Gordon Hayward, Miles Bridges and P.J. Washington.

Since the Hornets have the ability to sign Oubre outright using their cap room, a sign-and-trade agreement involving the Warriors is unlikely unless Golden State wants to give up an asset to create a trade exception.