The Memphis Grizzlies have agreed to a trade with the New Orleans Pelicans, acquiring guards Jordan Hawkins and Micah Peavy along with future draft picks. League sources confirmed the deal to The Athletic on Tuesday, which sends AJ Johnson and Taj Gibson to New Orleans. This move continues the Grizzlies' focus on accumulating young talent as they look to bounce back from a difficult finish to the 2025-26 campaign, which concluded with a 132-101 loss to the Houston Rockets on April 13.
What did the Memphis Grizzlies get in the trade?
Memphis receives two perimeter prospects and future draft capital. Jordan Hawkins, the 14th overall pick in 2023, is a sharpsooter who averaged 8 points and 2.3 rebounds over three seasons with the Pelicans. He shot 34.8 percent from three-point range. Micah Peavy, selected 40th overall in 2025, made a name for himself as a defensive stopper during his rookie year, putting up 4.3 points and 1.9 rebounds per game.
The Grizzlies also get a future second-round pick and a future second-round pick swap from New Orleans. This influx of youth and assets is a clear step in the team's rebuilding process. You can track the development of the new roster on our [squad](/squad) page.
Why did the Pelicans make this deal?
New Orleans had clear financial motives. The trade creates $5.7 million in room below the NBA's first apron. It also generates a $7 million trade exception by moving Hawkins' salary. This financial flexibility allowed the Pelicans to complete the signing of guard Bennedict Mathurin to a two-year, $16 million deal, a move agreed upon weeks earlier.
A team source indicated the Pelicans will likely waive Taj Gibson and his non-guaranteed $3.8 million contract. AJ Johnson, the other player headed to New Orleans, will get a chance to compete for a spot in training camp.
What does this mean for the Grizzlies' future?
This trade is about the long game for Memphis. Adding Hawkins gives them a potential floor-spacer who needs to find consistency. Peavy provides immediate defensive intensity on the wing. The draft picks offer more ammunition for future moves. It's a patient approach for a franchise that ended last season on a five-game losing streak, with a 0-5 record in its final outings.
The front office is betting on player development. Hawkins showed promise early but fell out of the rotation last season. A fresh start in Memphis could unlock his potential. For Peavy, it's an opportunity to expand his role beyond defense. The team's recent form, detailed on our [stats](/stats) page, shows where improvements are needed most.
What's the immediate context for this move?
The trade comes after a season where the Grizzlies struggled to find wins down the stretch. Integrating new, young players like Hawkins and Peavy will be a priority for the coaching staff as they prepare for the upcoming season. The focus will be on building a new core and establishing a competitive identity.
Memphis now has more options on the perimeter. How these pieces fit alongside the existing roster will be a key storyline. The acquisition signals a commitment to a youth movement, with an eye on future draft nights and player growth as the primary paths back to contention.
