The Memphis Grizzlies acquired Jordan Hawkins, Micah Peavy and two draft assets from the Pelicans for AJ Johnson and Taj Gibson.
The Memphis Grizzlies are acquiring Jordan Hawkins, Micah Peavy, a future second-round pick, and a future second-round pick swap from the New Orleans Pelicans, ESPN's Shams Charania reported Tuesday. Memphis is sending AJ Johnson and Taj Gibson to New Orleans.
The Hawkins talks had been around for a while. Marc Stein and Jake Fischer of The Stein Line reported July 22 that New Orleans was working through trade frameworks for Hawkins to create roster and financial flexibility. Memphis had registered interest, but no deal was in place at the time.
Michael Scotto of HoopsHype reported on July 31 that Johnson had come up in those conversations.
Now, both are part of the deal.
Jordan Hawkins Gives Grizzlies Another Shooter
Hawkins went 14th overall in the 2023 NBA Draft, three months after winning a national championship at UConn.
As a rookie, he averaged 7.8 points, 2.2 rebounds, and 1.0 assists in 67 games. He shot 36.6% from 3. His best night came against Dallas on Jan. 13, 2024. Hawkins scored a career-high 34 points in a 118-108 Pelicans win.
His scoring jumped to 10.8 points per game the following season, although his 3-point percentage dipped to 33.1%.
Hawkins' role has diminished over his career.
Last season, he appeared in 51 games but started only once. He averaged 5.1 points, 1.7 rebounds, and 0.8 assists in 13.6 minutes per game, with shooting percentages of 36.6% from the field and 34.8% from three-point range.
He is due $7.0 million this season, the final guaranteed year of his rookie contract. Hawkins can become a restricted free agent in the summer of 2027.
Peavy gives Memphis another young wing.
Washington used the No. 40 pick on him in the 2025 draft before sending his rights to New Orleans in the three-team CJ McCollum-Jordan Poole trade.
Peavy signed a four-year, $8.7 million deal the next day. The first two seasons are fully guaranteed, with a guarantee date on the third year and a team option on the fourth. He will make over $2.1 million this season.
He got into 61 games as a rookie, four of them starts.
Peavy averaged 4.3 points, 1.9 rebounds, and 1.0 assists in 15.0 minutes. He shot 38.5% overall and 25.9% from 3.
His career high came April 7 against Utah: 20 points on 9-of-13 shooting in a 156-137 win.
Peavy spent his final college season at Georgetown. He averaged 17.2 points, 5.8 rebounds, and 3.6 assists and made the All-Big East first team.
AJ Johnson Heads to New Orleans
Milwaukee took Johnson 23rd overall in 2024 after he spent a season with the Illawarra Hawks in Australia.
He has moved around since.
The Bucks traded Johnson to Washington in February 2025. The Wizards sent him to Dallas a year later, and Memphis acquired him this summer as part of the six-team trade that also brought D'Angelo Russell and Isaiah Stewart to the Grizzlies. It remains to be seen what Memphis will do with Russell as the team is expected to part ways.
Washington had already exercised Johnson's team option for this season. He is due over $3.2 million.
Johnson appeared in 48 games last season between Washington and Dallas. He averaged 3.3 points, 1.1 rebounds, and 1.0 assists in 9.4 minutes.
For his career, Johnson has played 78 games and averaged 4.9 points, 1.5 rebounds, and 1.6 assists.
Gibson's Memphis stay ends after 10 games.
The Grizzlies signed him to a two-year contract on Feb. 26, the same day they reached a buyout agreement with Kyle Anderson. Gibson debuted March 13 against Detroit and played 12 minutes.
He averaged 3.4 points and 2.7 rebounds in 9.7 minutes for Memphis.
Gibson, the 26th pick in the 2009 draft, turned 41 in June. His $3.82 million salary for this season was non-guaranteed.
Grizzlies Structure Trade Without Using Hawkins Exception
The salary mechanics required Gibson to be in the deal.
Johnson's salary alone fell short of what Memphis needed to match Hawkins. The Grizzlies included Gibson rather than taking Hawkins into their roughly $29 million trade exception, Third Apron salary cap analyst Yossi Gozlan wrote.
Gibson's salary protection increased from $0 to $200,000 for the trade, ESPN front office insider Bobby Marks wrote.
Johnson and Gibson therefore count for $3.4 million in outgoing salary, allowing Memphis to take back Hawkins' $7.0 million salary. Peavy's $2.1 million contract falls under an exception, according to Marks.
Johnson could not be aggregated in another trade until Tuesday, two months after the July deal that sent him to Memphis. Gozlan noted that the same restriction recently expired for most players traded in early July.
Memphis still has roster work to do.
Scotto reported July 31 that the Grizzlies had 19 players signed to standard contracts, four above the regular-season limit of 15. That did not count second-round pick Richie Saunders, who is recovering from the torn ACL he suffered at BYU in February.
Memphis finished 25-57 last season. The Grizzlies traded Ja Morant to Portland on June 29 and drafted Cameron Boozer third overall.
Coach Tuomas Iisalo also has Cedric Coward, Zach Edey, Jerami Grant, Russell, and Stewart on the roster. A Western Conference scout told Heavy Sports the Grizzlies are a point guard away.
New Orleans went 26-56 and hired Jamahl Mosley as head coach this offseason. The Pelicans also agreed to a deal with Bennedict Mathurin and had a crowded roster heading toward training camp.
NBA rosters must be down to 15 standard contracts before the regular season.
