New Orleans does not have enough cap room to do all the things they have promised to do. Strange, I know. That does not mean they lack the capacity to create the necessary room, only that they have yet to take the steps to create room. With all of the current Pelicans obligations they are currently about $1.5 million over the salary cap. Since all of their signings must be done with cap space sacrifices must be made.
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New Orleans has six guards under contract;
Jrue Holiday, Buddy Hield, Langston Galloway (pending), E'Twaun Moore (pending), Toney Douglas (non-guaranteed), and
Tyreke Evans. Additionally they would like to retain
Tim Frazier, or they would have rescinded his qualifying offer already as they did
Jeff Withey last summer.
Seven guards is too many. Holiday is clearly a part of their long term plans if you listen to Demps or Gentry talk. Hield, Galloway, and Moore have recently be added to the roster. Douglas, the easiest target to move to make transactions easier, has not been waived. Tyreke Evans is the most likely candidate to be moved. Trading away Tyreke's $10.2 million on the salary cap makes all the remaining transactions easy, including re-signing Tim Frazier.