The New Orleans Pelicans are acquiring Charlotte Hornet banned free agent Devonte Graham in a sign-and-trade deal, Graham's agents Austin Brown and Ty Sullivan told ESPN's Adrian Wojnarowski.
The deal is worth $47 million over four years.
New Orleans is sending its 2022 lottery-protected first-round pick to Charlotte, the sources said.
Graham became the odd man in Charlotte, where LaMello Ball and Terry Rozier grabbed most of the point guard minutes, and now made a fresh start with New Orleans.
Graham, 26, had a breakout season with the Hornets in 2018-19, averaging 18.2 points and 7.5 assists in 63 games. He finished fifth in the NBA's Most Improved Player voting - an award won by his new teammate Brandon Ingram.
After the ball was drafted by the Hornets, Graham was used in a variety of ways - sometimes starting with Rozier and Ball, other times off the bench late in the season - but his output fell slightly to 14.8 points. and 5.4 assists per game.
Graham has never shot more than 40% off the field in any season, but he has been a consistent 3-point shooter in the last two seasons at 37.3% in 2019-20 and 37.55 last season. His 218 makes were fifth in the NBA two seasons ago.
According to Second Spectrum, Graham shot 42.6% on catch-and-shoot 3-pointers last season, a mark that ranked ninth out of 62 NBA players who took at least four catches in a game. -and-shoot 3-pointers shot.
Graham went from 210 catch-and-shoot 3s two years ago to 296 last season, shifting more as the Hornets played with the LaMello ball controlling the show.
Graham could step into an early role in New Orleans to replace Lonzo Ball, who had agreed to a deal with the Chicago Bulls.