It’s important first to outline what the New Orleans Pelicans face in regards to their cap situation heading into July. This week, the team made decisions on late-season acquisitions and restricted free agents Tim Frazier and James Ennis, extending a qualifying offer to the former and declining to do so for the latter. That means Frazier’s cap hold will stay on the books as free agency ramps up but Ennis’s will not.
Along with Frazier’s cap hold, the Pelicans have to deal with around $36 million dollars in holds for Ryan Anderson and Eric Gordon, even though both appear eager to test the market and perhaps leave New Orleans.