Charlotte Hornets Stay Busy Ahead of Trade Deadline, Trade for Orlando Magic Guard Tyus Jones and Picks

Jeff Peterson knows how to create value on the margins.

According to ESPN insider Shams Charania, the Charlotte Hornets traded cash considerations for Tyus Jones and a pair of second-round picks from the Orlando Magic.

Sources said the Hornets receive two second-round picks from the Magic in this deal, lifting them to 11 first-rounders and 14 second-rounders over the next 7 years. The trade gets Orlando out of the luxury tax. https://t.co/68vfBCaetu
— Shams Charania (@ShamsCharania) February 5, 2026

Charania's fellow ESPN employee Bobby Marks chimed in shortly after the deal was announced and noted that the Hornets will receive the least favorable of Boston or Orlando's second-round pick in 2027, and Orlando's second-round pick in 2028.

Charlotte received the 2027 least favorable second via Boston/Orlando and 2028 second via Orlando sources tell ESPN. https://t.co/RvakaSb4jo
— Bobby Marks (@BobbyMarks42) February 5, 2026

The move was made by the Magic to duck the luxury tax and the Hornets were well-compensated for throwing a bone to their division rivals.

Charlotte will need to create a roster spot before officially acquiring Jones.

Who is Tyus Jones?

Jones was selected by the Minnesota Timberwolves with the 24th overall pick in the 2015 NBA Draft after winning a national championship in his lone season at Duke University -- it feels like the Hornets were always going to acquire a Blue Devil after swinging a major deal for a Tar Heel this afternoon, right?

The veteran point guard has appeared in 48 games this season for Orlando and is averaging 3.0 points, 1.1 rebounds, and 2.4 assists per contest. He is a steady hand in the back court, but was recently usurped by rookie Jase Richardson in the Magic's guard rotation.

Why did Charlotte make this deal?

Well, the second-round picks, of course. Jones is a likely buyout candidate, especially if the Hornets retain Tre Mann past tomorrow's 3 P.M. trade deadline. In the event that Charlotte trades man for some front court depth, Jones may stick around as a 'break glass in case of emergency' third guard for the Hornets.

Between this deal and the three-team trade that landed Coby White in Charlotte, the Hornets are back to where they started the day in terms of the number of future second round picks they have.

Peterson and company acquired one from Oklahoma City and two from Orlando, and they sent three to Chicago alongside Collin Sexton and Ousmane Dieng. A masterclass in asset management from an executive that has proven time and again that he is exceptional at this part of his job.

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