Pelicans trading Daniel Theis to Thunder

Oklahoma City will receive a 2031 second-round pick in the deal, according to NBA insider Marc Stein. New Orleans previously traded swap rights on that pick to Orlando, so the Thunder will receive the least favorable of the Pelicans’ and Magic’s second-rounders in 2031.

It’s a salary dump for New Orleans, which had been operating about $1.4M above the luxury-tax line. The Pelicans are one of two NBA teams to have never paid the tax and weren’t about to start this season for a team that currently holds a 12-38 record.

Moving Theis’ $2.1M minimum salary contract, which expires at season’s end, allows the Pelicans to duck out of tax territory.

If New Orleans doesn’t make any additional trades on Wednesday or Thursday, this deal will leave the team with just 13 players on standard contracts. By NBA rule, the Pelicans would need to re-add a 14th man within two weeks of trading Theis. A prorated minimum salary signing at that point would still allow them to narrowly remain below the tax threshold.

Despite their NBA-best 39-9 record, the Thunder aren’t constricted by the tax aprons like many of the league’s other contenders. Before this trade, Oklahoma City’s team salary had been hovering right around $160M, giving the club plenty of room below the $170.8M tax line to take on additional money.

The Thunder also have an open spot on their 15-man roster, so they won’t need to waive anyone to make room for Theis, who can be acquired using the minimum salary exception.

It’s unclear if the Thunder plan to hang onto Theis after acquiring him or if they’re just making the deal for the draft compensation. The veteran center could provide some frontcourt depth in OKC after averaging 4.3 points, 4.3 rebounds and 1.6 assists in 16.3 minutes per game across 38 outings (nine starts) for the Pelicans.

A rookie big man, Branden Carlson, has occupied the Thunder’s 15th roster spot for much of the season to date, first on a non-guaranteed contract and then on a pair of 10-day deals. If the team hangs onto Theis and doesn’t make any additional moves to open spots on its 15-man roster, a two-way deal would be the only path for Carlson to rejoin the squad.