Charlotte Hornets officially sign Kelly Oubre Jr. to two-year deal, waive Caleb Martin

In welcoming a free agent addition to the fold, the Charlotte Hornets had to say goodbye to a well-liked individual.

The Hornets signed wing Kelly Oubre Jr. to a two-year deal, $26 million on Saturday. Per sources, there are no team or player options in the contract and the second year is partially guaranteed.

To make room for Oubre, the Hornets waived Caleb Martin. He was scheduled to earn $1.8 million in 2021-22 and his contract would have been guaranteed on Aug. 15. Martin appeared in 53 games this past season, starting in three. He averaged five points, 2.7 rebounds and 1.3 assists in 15.4 minutes per game. Undrafted out of Nevada, the Mocksville, N.C native averaged 5.3 points, 2.5 rebounds and 1.3 assists in 71 career games with the Hornets over two seasons.

Oubre is an athletic player who is adept at slashing and getting to the basket, two traits that could help him flourish in the Hornets' uptempo system with LaMelo Ball running point guard. He will add depth to the bench and provide insurance behind Gordon Hayward, who missed 28 games and was unavailable for the season's final six weeks. 

He also brings something the Hornets lack: playoff experience. Oubre played in 18 postseason games with Washington in 2017 and 2018.

Charlotte beat out Los Angeles, Milwaukee, Denver, Brooklyn, Portland, Denver, Cleveland and New York for Oubre's services.