Pelicans Trade Grade: Hawkins, Peavy Sent Packing to Grizzlies in 4-Player Deal

After some speculation this summer around a move to offload Jordan Hawkins, the New Orleans Pelicans finally traded the former first-round pick on Tuesday. ESPN insider Shams Charania broke the news that New Orleans is sending Hawkins, second-year guard Micah Peavy, and a second-round pick to the Memphis Grizzlies for AJ Johnson and 41-year-old veteran Taj Gibson. The teams also have a future second-round pick swap in the deal. The New Orleans Pelicans are trading Jordan Hawkins, Micah Peavy, a future second-round pick and a future second-round pick swap to the Memphis Grizzlies for AJ Johnson and Taj Gibson, sources tell ESPN. pic.twitter.com/JLvDjv9clc — Shams Charania (@ShamsCharania) September 8, 2026 On the surface, the Pelicans accomplished their goal by freeing up a roster spot to sign Bennedict Mathurin last month to a two-year, $16 million contract. Acquiring Mathurin put the team's roster at 16 players, which they needed to trim to 15 before the season starts. Speculation is that New Orleans will waive Gibson to get down to the league-mandated 15 players (h/t WillGuillory). Grading Tuesday's Pelicans-Grizzlies trade With this move, the Pelicans will be about $7.9 million under the cap and about $9.5 million under the first apron. Financially, it will work perfectly to acquire Mathurin while ducking any tax responsibilities. The puzzling piece is that the Pelicans extended Hawkins this summer to turn around and trade him, while giving up assets. Peavy was a nice surprise last season after New Orleans acquired him after he was drafted by the Washington Wizards in the second round. The former Georgetown standout was the less-hyped of last year's draft class that also included Jeremiah Fears and Derik Queen. Both Queen and Fears were named to the NBA All-Rookie Second Team last season, but Peavy quietly made some decent impact last season. He appeared in 61 games last year, while averaging 4.3 points, 1.9 rebounds, and 1 assist per game. Peavy scored at least 20 points in 2 of the final 3 games of the season. Meanwhile, there was much promise from Hawkins when the Pelicans drafted him 14th overall in the 2023 NBA Draft from the University of Connecticut. New Orleans envisioned a sharpshooter to pair with Zion Williamson and Brandon Ingram, giving the Pelicans a serious threat from beyond the arc. Hawkins had his moments, but his New Orleans tenure was marred by inconsistent shooting and far too many defensive lapses. Last season, he was benched midway through the year, recording nine straight DNPs (coaching decisions) after an ice-cold month of shooting. Hawkins now gets a fresh start on a young Grizzlies team looking to rebuild after trading away Ja Morant earlier this summer. At 24, Hawkins still fits well with their young timeline, and if he can regain some of his college proficiency, he could be a nice piece for the Grizzlies in the future. If not, it would be a low-cost move that didn't cost them much in the deal. For New Orleans, giving up a promising young rotational piece in Peavy, while also surrendering a second-round pick, is baffling. Don't be surprised if trading Micah Peavy away comes back to bite the Pelicans. | IMAGN IMAGES via Reuters Connect The Pelicans only have one second-round pick over the next three years, so if that pick goes to Memphis, you have exhausted that potential for the near future. It is unclear what future Johnson has with the Pelicans. They will let him battle it out in training camp before deciding whether to keep him. The 6'5" guard played for both the Wizards and Dallas Mavericks last season before being traded to Memphis earlier this summer. Even with Hawkins and Peavy on the move, the Pelicans are jam-packed on guard and wing depth, so it's difficult to imagine Johnson being here for the long term. Since the team didn't have to extend Hawkins in the first place and is giving up a pick plus a promising rotational piece, the Pelicans have to be given a D for this trade. Yes, financially it helps to acquire Mathurin, but they could have found a better way without giving up assets. Trade grade: D Add us as a preferred source on Google