The New Orleans Pelicans are waiving Taj Gibson just hours after acquiring him in a multi-player transaction with the Memphis Grizzlies, according to reports by Will Guillory of The Athletic.
The Trade Mechanics: How Memphis Landed Jordan Hawkins
According to league reports, Memphis traded Gibson and AJ Johnson to the Pelicans in exchange for Jordan Hawkins, Micah Peavy, a future second-round pick, and a future second-round pick swap.
ESPN front office insider Bobby Marks detailed that Gibson’s salary protection increased from $0 to $200,000 as part of the trade architecture. That adjustment brought the combined outgoing salary for Gibson and Johnson to $3.4 million, which enabled Memphis to absorb Jordan Hawkins and his $7.0 million salary. Meanwhile, Spotrac analyst Keith Smith reported that Micah Peavy arrived in Memphis utilizing a $4.3 million trade exception that the Grizzlies had previously generated in their trade of Ja Morant to Portland.
Taj Gibson’s Brief Ten-Game Stint in Memphis
Gibson’s tenure in Memphis concludes after a brief 10-game appearance following a mid-season signing on February 26, when he joined the Grizzlies on a two-year, $4.8 million contract. Prior to Tuesday’s trade, none of Gibson’s 2026-27 base salary of $3.8 million had been guaranteed beyond the initial $960,753 covering the previous season. The trade’s partial guarantee of $200,000 provides a brief financial bridge before the Pelicans process his release.
During his time with Memphis, Gibson averaged 3.4 points and 2.7 rebounds across 9.7 minutes per game. The veteran, who turned 41 in June, entered league history earlier in the year as the 35th player to appear in an NBA game after turning 40. Drafted 26th overall by the Chicago Bulls in 2009, Gibson has logged 17 NBA seasons across stints with Chicago, Oklahoma City, Minnesota, New York, Washington, Detroit, Charlotte, and Memphis, accumulating 8,431 career points and 5,754 rebounds.
Grizzlies Roster Pressures and Incoming Assets
HoopsHype reporter Michael Scotto noted that the Grizzlies held 19 players on standard contracts at the end of July, sitting four spots above the regular-season limit of 15. Following a summer buyout with Kentavious Caldwell-Pope and the retention of D’Angelo Russell on an expiring $6.0 million deal, front office personnel trimmed the standard roster down while incorporating new talent.
For Memphis, the acquisition brings Jordan Hawkins, a 2023 first-round draft pick (14th overall) who averaged 5.1 points, 1.7 rebounds, and 0.8 assists over 51 games last season while shooting 34.8 percent from three-point range. Hawkins remains under team control through his restricted free agency in the summer of 2027. Peavy, drafted 40th overall by Washington in 2025 and subsequently traded to New Orleans, adds depth on a four-year, $8.7 million contract running through at least 2028 after averaging 4.3 points and 1.9 rebounds in his rookie campaign.
Both franchises must finalize their 15-man standard contract limits ahead of the upcoming regular-season tip-off. Follow official league transaction wires and team announcements for further roster updates.
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