Pelicans Strong Favorites To Re-Sign Jrue Holiday

3:11pm: Holiday’s plan is to sleep on his decision tonight after meeting with the Pelicans, according to Ramona Shelburne of ESPN.com, who tweets that if the point guard decides he wants to hear more pitches, he’ll line them up later.

TNT’s David Aldridge confirms (via Twitter) that Holiday expects to decide one way or another on New Orleans’ offer on Saturday, adding that there are three other teams in serious pursuit of the 27-year-old.

JUNE 30, 11:11am: There’s “growing optimism” that the Pelicans will re-sign Holiday, tweets Scott Kushner of The Advocate. Marc Stein of ESPN.com (Twitter links) expresses a similar sentiment, reporting that other teams with interest in Holiday are starting to believe he’ll quickly re-sign with New Orleans on a new five-year deal.

Holiday’s bond with the Pelicans is strong after the way the organization supported him during a family crisis last fall, Stein notes.

JUNE 29, 1:29pm: Re-signing free agent point guard Jrue Holiday is the Pelicans’ top priority this weekend, and Holiday will meet with the team when the new league year opens on Saturday, according to Adrian Wojnarowski of The Vertical. If Holiday is unable to reach an agreement with New Orleans during that meeting, he plans on sitting down with other interested teams during the first 48 hours of free agency, Wojnarowski reports.

As Sean Deveney of The Sporting News details, the point guard market is crowded with other free agents (such as George Hill, Kyle Lowry, and Jeff Teague) and potential trade candidates (Ricky Rubio and Eric Bledsoe). Additionally, some of Holiday’s potential suitors are now out of the running or have likely seen their interest decline significantly due to a slew of recent moves around the NBA.

For instance, the Nets, Sixers, and Mavericks were viewed as possible suitors for Holiday, but have added D’Angelo Russell, Markelle Fultz, and Dennis Smith Jr., respectively, within the last week. The Bulls and Knicks were also viewed as teams with interest, but both teams are in rebuilding mode now and Holiday would only be interested in leaving New Orleans for a playoff team, sources tell Deveney. The potential drop-off in interest opens the door for the Pelicans to retain their starting point guard.

“They want to keep him,” one league executive tells Deveney. “They’re going to do all that they can to keep him. But the way things have played out, there is not as much pressure on them, once they roll out the red carpet for him.”

While Holiday’s market may not be as competitive as expected, the Pelicans will still have some competition. Deveney identifies the Nuggets as one threat, since Denver intends to be active in free agency and could use a long-term point guard. A source confirms to Deveney that Holiday will draw interest from the Nuggets.

If the Pelicans aren’t able to re-sign Holiday, it may be tricky to find an adequate replacement, since the club already has more than $85MM in guaranteed salaries on its books, reducing cap flexibility.