The Ragin' Cajun is coming home.

As reported by Yahoo Sports' Adrian Wojnarowski, the former Louisiana–Lafayette product has agreed to terms with the New Orleans Pelicans.

The 6-foot-4 guard is expected to either start alongside mainstay court general Jrue Holiday during small line-ups or serve as backup, although how deep he is in the pecking order depends on how the Pelicans' negotiations with free-agent playmaker Rajon Rondo plays out whom they intend to keep after a stellar make-good season with the sixth-seeded ball club.

As for Payton, the former lottery pick by the Orlando Magic has failed to live up to expectations. Heralded as a defensive stopper, the 24-year-old has been disastrous on that side of the ball, repeatedly blowing defensive assignments and over-gambling for steals.

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While his occasional bursts of triple-doubles (and near triple-doubles) have been amazing for fantasy owners, failure to parlay such feats into winning basketball, general inconsistency, and overall failure to develop into a dependable point guard that his talent and skill set promised, was the last straw for the Magic who shipped the young point to the Valley of the Sun.

With the Phoenix Suns, it was more of the same from Payton, racking up two triple-doubles in just his first nine games — easily a franchise record. With the waiving of point guard Tyler Ulis, many expected the Suns to at least keep Payton as insurance – but with this news of his verbal commitment to the Pelicans, it doesn't appear to be the case.