Pelicans’ Trade Grade: Hawkins and Peavy Pack Their Bags for Memphis

After months of rumor‑mongering, New Orleans finally pulled the trigger on the Jordan Hawkins deal on Tuesday night. The former 14th‑overall pick, along with second‑year guard Micah Peavy, a future second‑rounder and a swap of another second‑round pick, headed south to Memphis. In return the Pelicans got a 6‑foot‑5 swing‑man in AJ Johnson and the 41‑year‑old veteran Taj Gibson.

On paper it looks tidy: the team clears a roster spot, slides under the cap by roughly $7.9 million and sidesteps any luxury‑tax headaches. That freed‑up space was needed to sign Bennedict Mathurin to a two‑year, $16 million deal last month, and the squad now sits at the league‑mandated 15‑player limit.

But there’s a lingering “wait, what?” feeling. Hawkins was extended this summer – a move that signals a team’s belief in a player’s future – only to be shipped off a few weeks later. And then there’s Peavy. The quiet, second‑round pick from Georgetown never made big headlines, yet he chipped in 4.3 points, 1.9 rebounds and an assist across 61 games last season, even dropping 20‑plus points in two of the final three outings. Losing him feels more like a misstep than a calculated purge.

For the Grizzlies, the deal is low‑risk. At 24, Hawkins still possesses the shooting pedigree that made him a first‑rounder out of UConn. Memphis is rebuilding after the Ja Morant trade, and a youthful guard who can rediscover his college form could be a neat piece for the future – or at worst, a cheap contract that doesn’t hurt the bottom line.

The Pelicans, meanwhile, are left with a surplus of wing depth. AJ Johnson, who bounced between Washington, Dallas and Memphis last year, will have to prove his worth in training camp; he’s not exactly a locked‑in starter. Taj Gibson, despite his experience, is likely a contract‑kill to bring the roster down to 15. In short, New Orleans cleared a spot, but at the cost of a promising rotational player and a second‑round pick that could have been a gem.

Financially the trade makes sense, especially with Mathurin’s contract looming. Strategically, however, it feels like the Pelicans took a shortcut, trading away assets they just spent time developing. If Peavy blossoms elsewhere, the sting will be louder. All things considered, this is a D‑grade move – it works on the ledger, but it doesn’t feel like the smartest on‑court decision.