Woj: Pelicans acquire Valanciunas, swap picks for Adams, Bledsoe

The New Orleans Pelicans and the Memphis Grizzlies are finalizing a trade that sends Jonas Valanciunas, the No. 17, and No. 51 picks in Thursday’s NBA draft to the Pelicans for Steven Adams, Eric Bledsoe, the No. 10, No. 40, and a top-10 protected 2022 first-round pick from the Los Angeles Lakers, first reported by ESPN’s Adrian Wojnarowski.

Reported by Chris Haynes of Yahoo Sports, Bledsoe isn’t expected to remain with Memphis.

For the Pelicans, trading both Adams and Bledsoe opens up the needed cap space to be able sign the likes of All-Star Kyle Lowry, who Marc Stein reported last week is at the top of New Orleans’ wish list. Pelicans guard Lonzo Ball is a restricted free agent and reported by Shams Charania of The Athletic, is unlikely to have a ‘significant’ offer sheet matched by the Pelicans.

With the trade, which can’t be finalized until Aug. 6 when free agency officially begins, the Pelicans could have between $25-$36 million in cap space, depending on if restricted free agent Josh Hart is resigned.

In Valanciunas, the Pelicans are acquiring an underrated big who averaged 17.1 points and 12.5 rebounds per game last season. His improving ability to spread the floor was intriguing over Adams swallowing up space in the paint for Zion Williamson and others to work with.