The New Orleans Pelicans swung a deal with the Memphis Grizzlies that will create the space to sign Bennedict Mathurin. New Orleans is trading Jordan Hawkins, Micah Peavy, a second-round pick and a second-round pick swap to Memphis for Taj Gibson and A.J. Johnson.

The Pelicans now have enough space under what will be a first-apron hard cap to complete the signing of Mathurin. Previously, New Orleans could not have signed Mathurin and fit the contract in under the first-apron hard cap that would have been triggered.

Hawkins has struggled to find traction in his career to this point. In his third NBA season, the 6-foot-5 guard saw his playing time dip to just over 13 minutes per game. Hawkins has yet to shoot 40% in an NBA season. He's entering the final year of his rookie scale deal.

Peavy has flashed at times for the Pelicans. For the Grizzlies, this trade is mostly about acquiring some second-round draft capital in exchange for renting out some cap space.

New Orleans is likely to waive Taj Gibson, who saw his contract guarantee increase from $0 to $200 thousand in order to make the trade work. A.J. Johnson could have a shot at making the roster. Johnson has two years left on his rookie scale contract. The Pelicans will have to make a decision on the fourth-year rookie scale team option on Johnson's deal by October 31.