11:07pm: The trade is now official, according to the Hornets, who used their newly-acquired pick on Dwayne Bacon (Twitter link).
9:58pm: The Hornets drafted Duke guard Frank Jackson at No. 31 and will trade him to the Pelicans, tweets Shams Charania of The Vertical.
Charlotte will receive pick No. 40 in return, along with cash. The selection they used to on Jackson was acquired from the Hawks in Tuesday’s Dwight Howard trade. The Hornets sent pick No. 41 to Atlanta in that deal, so they are essentially back where they started.
A 6’4″ combo guard, Jackson averaged 10.9 points, 2.5 rebounds and 1.7 assists per game during his lone season at Duke.
What does it mean when a team gets “cash”?
Teams can be sent up to $3.5 million throughout a league season. (July 1 to July 1 maybe?) but some of these trades won’t go through until later because some teams are maxed out already. So it’s literally cash.
Charlotte has had a really, really good last couple of nights…they literally got perfect fits in the draft tonight too. Monk falls to them, and he’s perfect next to Kemba, and around Dwight, and then the get Bacon, who fits what they’re looking for on the wing
Good move for New Orleans to get a guard like Jackson. I personally like him. He could end up being a good piece for them
Especially after trading Tim Frazier to Washington adds another reserve guard to the rotation