Pelicans Are Inching Towards a Contract Extension With Key Contributor

The New Orleans Pelicans have been quiet so far in the offseason. Despite being at the center of a lot of trade discussions, the Pels have stood pat. With free agency officially kicking off on Tuesday, things could heat up for the Pelicans over the next couple of days.

While most of the attention has been given to potential trades and free agent signings, the Pelicans also have key decisions to make about their own players. Zion Williamson, Jordan Poole, Dejounte Murray, and Saddiq Bey are eligible for an extension this summer. While an extension is not expected with Poole and Murray, what happens with Williamson and Bey will be fascinating to watch.

The earlier reports have suggested that there may be mutual interest between Williamson and the Pelicans to get a new deal done. We haven't heard much on that front in recent weeks, but we now have a better idea of what the Pels want to do with Bey.

HoopsHype's Michael Scotto reported that the Pelicans and Bey are both interested in an extension. The sides can sign an extension starting July 11.

What's a Fair Deal for Pelicans' Saddiq Bey?

Bey is coming off a career season, which has largely gone under the radar in league circles. He was a three-level scorer, averaging 17.7 points per game on decent 57.9% True Shooting. He was a solid defender and made enough shots to establish himself as a valuable three-and-D wing. He even has more of an offensive game inside the arc than most three-and-D prototypes.

The 27-year-old forward is currently on one of the best-value contracts in the league. He is due $6.4 million next season, but will be in line for a massive pay increase in his next deal.

Bey will be eligible for a veteran extension that will start at 140% of the estimated average player salary in the league. This will be around $21 million in the first year of his contract. This will come out to a four-year, $93 million deal.

The Pelicans will understandably hesitate to give Bey this deal. A four-year contract could benefit both sides as Bey may want the security after missing a whole season with an ACL injury prior to arriving in New Orleans. The Pelicans may want to have Bey in his prime years on a team-friendly deal.

Could a four-year contract worth between $65-75 million be a win-win deal?

Given how little Bey has made so far in his career, this amount of guaranteed salary may be too hard to turn down, while giving the Pelicans some upside if Bey continues the same level of production. This would also make him ideal matching salary if the Pelicans ever decided to pivot and go after a big fish on the market.

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