The Pelicans waive the veteran guard Elfrid Paytonreports Shams Charania of ESPN (Twitter link).
Payton, who has been out of the NBA since the 2021-22 season, joined the Pelicans on a non-guaranteed contract last month and was one of the feel-good stories of the fall.
The Louisiana native played in Puerto Rico and the G League as he tries to make his NBA comebackHe immediately jumped into his home team's starting lineup and recorded 14 points, 21 assists and seven rebounds in his third game back.
However, the Pelicans have become healthier with both Dejounte Murray And CJ McCollum He recently returned to the team's backcourt, which resulted in Payton playing a reduced role. He played just six minutes in Monday's loss to Atlanta.
New Orleans should get a few more players back this week, as ESPN's Shams Charania reports on The Pat McAfee Show (YouTube link) The Brandon Ingram And Herbert Jones appear on track to play on Thursday.
The Pelicans are and have been slightly above the luxury tax line no desire to be a taxpayer this season, so there is certainly a financial reason for the decision to waive Payton. Leaving the 15th roster spot open for now would lower New Orleans' projected tax burden and make it easier for the team to get out of tax territory with a trade later in the season.
Payton's 14 days on the Pelicans' roster and two days on waivers results in a $274,809 cap hit for New Orleans, assuming he clears waivers. As Bobby Marks TweetsThe team will be about $1.4 million over the tax line and $3.8 million under the first apron after Payton is jettisoned.
