Pelicans get value from the departure of UFA Jonas Valanciunas

The NBA’s negotiating season has been in full swing for some time, but now anything can officially be submitted to the league. Some negotiations will be extended, while others will be concluded quickly now that the July 6 moratorium is lifted. The New Orleans Pelicans are in the thick of things on several fronts and have seemingly squeezed every last bit of value out of Jonas Valanciunas.

The Pelicans were struggling with tax issues after signing Dejounte Murray. New Orleans’ snagging of Yves Missi with the 21st pick was just one of many signs that Valanciunas was leaving town. The Lithuanian’s putting his house up for sale and quickly selling it was another sign that the Pelicans would need at least one new frontcourt player.

Now the team has made the official announcement. As part of a sign-and-trade agreement between the two teams, they acquired a protected 2027 second-round pick from the Washington Wizards in exchange for center Jonas Valančiūnas. New Orleans has also created a very useful Traded Player Exception worth $9.9 million.

New Orleans only gets the 2027 second-round pick if he falls after the 50th pick. The $9.9 million TPE is far more valuable because it would allow the Pelicans to take on a salary up to that value without giving anyone up. It’s a mechanism that makes finding a replacement center far easier if Brandon Ingram’s “mild” transfer market fails to produce a decent offer.

Pelicans have options with Traded Player Exception

The Pelicans saw the signs of the times months ago, but Executive Vice President of Basketball Operations David Griffin paid tribute to Valanciunas in a thank-you letter he released after the deal was made official.

“Jonas was not only an extremely valuable member of our starting lineup in several playoff runs, but also distinguished himself as a perfect teammate and professional,” said Griffin. “We will miss him and his family. We wish him nothing but success in his future career.”

The 6’3″, 260-pound Lithuanian has played 235 games for the Pelicans over the past three seasons. Valanciuncas started every single game and averaged 14.6 points, 10.1 rebounds and 2.1 assists in 26.1 minutes per game. The Pelicans got 12.2 points, 8.8 rebounds and 2.1 assists in 23.5 minutes per game from Valanciuncas last season, but those are still big shoes to fill.

New Orleans needs a starting center now, but has up to a year to use the $9.9 million Traded Player Exception. Unfortunately, the big market is drying up quickly. The Pelicans even made a sign-and-trade deal to send Cody Zeller to the Atlanta Hawks. Zeller’s departure signals that the Pelicans have something planned, but what?

Jock Landale ($8 million) and Kevon Looney ($8 million) are the only two obvious targets for the new $9.9 million TPE. Nick Richards ($5 million) and Walker Kessler ($2.9 million) could be acquired using alternative methods, such as the $5.3 million TPE created in the Kira Lewis Jr. deal. All the others are either too expensive or don’t quite match the level the Pelicans need to get back into the NBA playoffs.