The New Orleans Pelicans have made it abundantly clear: Brandon Ingram is a cornerstone of their franchise, and he's not on the market. Yet, this commitment to Ingram comes with its own set of financial dilemmas for the team.
Ingram, who is set to earn $36 million in the 2024-25 season, remains eligible for a contract extension worth up to a staggering $208 million over four years. Despite the potential for a lucrative deal, the Pelicans have opted not to rush into offering this extension just yet. This isn't necessarily a reflection of Ingram's value to the team but rather an acknowledgment of the financial landscape the team must navigate.
Financial Realities and Market Constraints
David Griffin, the Pelicans' Executive Vice President of Basketball Operations, shed light on the team's position. "I think from a relationship standpoint, we've been really clear we’d prefer Brandon stays with us and Brandon’s been pretty clear he prefers to stay with us. At the same time, there is a financial reality to this... we’re committed to each other," he noted.
This “financial reality” is partly driven by the new collective-bargaining agreement, which imposes stringent restrictions on teams with high payrolls. For teams exceeding the first salary cap apron of $178.1 million, taking back more salary in trades becomes more challenging. The second apron, set at $188.9 million, further restricts teams by preventing them from aggregating multiple players' salaries in trades.
"In some markets, you don't have to make any decisions: You get a max, and you get a max, and you get a max, and you hoard talent. We're not that market," Griffin explained, highlighting the Pelicans' need to operate with more financial prudence compared to larger market teams.
Exploring Trade Scenarios
Despite their commitment to keeping Ingram, both the Pelicans and Ingram’s camp have reportedly explored potential trade scenarios involving a max extension with other teams. This exploration serves to assess all options, ensuring that the best decision is made for both the player and the franchise.
Griffin acknowledged the complexities involved, particularly when high salaries are at stake. "When you don't have to pay them, you want all of them. And then when you actually have to hand them $50 million a year, mechanically, it gets complicated," he said.
Building Around Ingram
Since joining the Pelicans, Ingram initially showcased his shooting prowess by attempting 4.2 catch-and-shoot 3s per game, making 42% of them. However, these attempts have steadily declined each year. His journey hasn't been without challenges, including a hyperextended left knee towards the end of the last regular season. Moreover, the team faced a setback when Zion Williamson suffered a season-ending injury during the play-in tournament.
These injuries and changes have forced the Pelicans to re-evaluate their roster. The acquisition of Dejounte Murray from the Atlanta Hawks brought fresh talent, but it also meant bidding farewell to key players like Jonas Valanciunas and Larry Nance Jr., who left in free agency and the Murray trade, respectively.
As the team looks to strengthen its frontcourt, they're counting on a blend of Daniel Theis, rookie Yves Missi, and Jeremiah Robinson-Earl to fill the void left by departing players.
Griffin summed up the situation candidly. "Brandon went from not playing to, 'OK, now you have to carry us.' It was a really bad situation for Brandon." He continued, "So we gotta make choices, right? … we’re going to have to do this in a really unique way. And I think we’re pretty committed to playing small."
The Path Forward
As the Pelicans move forward, they are well aware of their strengths and areas needing reinforcement. "I understand that everybody looks at the situation and goes, 'They’re missing this, they’re missing that,' but we also have a lot of strengths that we want to lean into," Griffin reflected.
Despite the financial and strategic complexities, the Pelicans remain committed to crafting a competitive team with Brandon Ingram as a central figure. The journey ahead will require navigating these challenges with a keen eye on both short-term gains and long-term stability.