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The New Orleans Pelicans are sticking with their bread and butter after suffering through another injury setback. Zion Williamson and Brandon Ingram are fine. However, new table-setting point guard Dejounte Murray is going to miss a month following surgery to fix a hand fracture. The core of a 49-win team is still lingering around the locker room but the setback was a sour note to cap the season-opening win at home over the Chicago Bulls.
New Orleans has enough talent to tread water in the Western Conference with Murray and Trey Murphy III unavailable until December. Murphy III may return to the Pelicans rotations sooner, but Murray will miss the two games sandwiched between Thanksgiving Day. The good news is that this unfortunate incident may indirectly save the organization millions in luxury taxes and possibly draft capital.
As per ESPN's Bobby Marks, Murray has three different incentive clauses in his contract that are considered likely and currently count against the salary cap for luxury tax purposes. Each incentive requires Murray to play in at least 65 games and would add up to a total of just under $2 million.
New Orleans is currently over the luxury tax threshold by approximately $1.55 million. The Pelicans will get a tax variance credit of $700,000 should Murray fall short of 65 games. The franchise, which has never paid the tax, would still be roughly $850,000 over the limit though. Unfortunately for the front office, all incentives and bonuses are on the books for now. Ownership would be on the hook for an extra $2.33 million if Murray makes it back soon and no trades are made.
Assume Murray would not miss another game once returning from this injury. He would need to be back for a November 25 trip to face the Indiana Pacers for those cap charges to remain on the books. Those charges disappear once Murray misses 17 games, giving the Pelicans far more wiggle room at the trade deadline.
EVP David Griffin knows the value of even a little leverage when working with small market margins and second aprons. The four-to-six-week timeline given makes it seem cashing those incentive checks should be a longshot bet at best.
Pelicans know the cost of doing business
The Pelicans have been in a similar salary cap squeeze position before, just less than two years ago in fact. Devonte' Graham was moved to the San Antonio Spurs and it cost four second-round picks to push the deal through. When LeBron James counted off “not one, not two, not three” he was talking about championships. EVP David Griffin was forced to spend a fair amount of draft capital to duck under the luxury tax line.
Now, sure, it was a defendable transaction. The Pelicans were in no danger of winning the Western Conference. Paying millions for the privilege of a slightly longer forgettable season was akin to mining for fool's gold. So how can the Pelicans shed that extra $850,000 to skirt under the luxury tax line?
Trading Jeremiah Robinson-Earl, Daniel Theis, or Javonte Green for second-round picks and no returning salary would do the trick. The roster spot could then be filled with a veteran minimum or a converted two-way contract. Adding Karlo Matkovic or Antonio Reeves to the deal might bring back a part-time postseason contributor.
Getting Murray back in time for the NBA In-Season Tournament is far more important for the Pelicans. That cost of acquisition has already been paid. Now the front office is ready to see some returns on a long rebuilding effort. This roster is getting more expensive by the day, even with Murray missing time.
