New Orleans Pelicans: Re-signing Jrue Holiday is only the first step
The New Orleans Pelicans re-signed Jrue Holiday to a five-year, $126 million extension, but there are still many holes to fill on the roster.
The New Orleans Pelicans front office made it adamant that their No. 1 priority this offseason was locking up Jrue Holiday long-term. They accomplished that goal on July 1 by re-signing Holiday to a hefty five-year, $126 million extension.
With the extension, the Pelicans have locked themselves into a core of Anthony Davis, Jrue Holiday and DeMarcus Cousins. That is a very talented core, but the Pelicans’ road to the playoffs is getting tougher by the day.
Fellow lottery teams Denver and Minnesota each added All-Star talent from the Eastern Conference. Also, the Thunder added Paul George without losing any major pieces. This is bad news for New Orleans, which has very little financial flexibility to add free agents. General manager Dell Demps needs to get creative in how he builds around his talented trio.
New Orleans took the safe route by re-upping Holiday, which was not a bad option. There are rumblings of him being overpaid, but 26-year-old two-way guards do not come cheap. Paying Holiday big money would not be an issue if the Pelicans hadn’t struck out on previous free agent deals.
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The Pelicans have Omer Asik on the book for another year at $12 million a year, which is potentially the worst contract in the NBA. Last offseason they shelled out four years and $48 million to Solomon Hill, who failed to live up to expectations. It is not Holiday’s contract that should be criticized, it is the bad investments to other portions of the roster that have put New Orleans in cap hell with little chance to improve.
The Pelicans still have the Mid-Level Exception and the base-level exception to add pieces this offseason. However, it is unlikely they find a difference-maker with that money. Outside of the top free agents, there is no one that definitively makes the Pelicans a playoff lock.
Another concern with trades is that Pelicans roster lacks clear upside outside of Holiday, Davis and Cousins. Cheick Diallo and Frank Jackson have potential, but both are at least two years away from being NBA-ready.
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So right now the Pelicans sport a top-heavy roster with limited financial flexibility and very little upside. They are teetering the line between good and NBA purgatory, and the moves made this offseason could have a lasting impact on the future of the team. With DeMarcus Cousins’ impending free agency next year, the clock is ticking for New Orleans.