Pelicans Waive Matt Ryan

9:03pm: The Pelicans officially waived Ryan on Friday, according to NBA.com’s transaction log.

1:19pm: The Pelicans plan to waive sharpshooter Matt Ryan, reports Shams Charania of The Athletic (via Twitter).

Ryan, 27, appeared in 28 games for New Orleans in 2023/24, averaging 5.4 points and 1.4 rebounds while shooting 45.1% from three-point range in 13.9 minutes per contest. He missed several weeks of action last season due to a right calf strain and a right elbow injury, which required surgery in December.

New Orleans claimed Ryan off waivers last October, inheriting the two-way contract he signed with Minnesota shortly before the start of training camp. He also had brief stints with the Celtics and Lakers earlier in his career.

The Pelicans converted Ryan to a standard contract at the very end of last season, making him playoff-eligible. However, his three-year deal — which featured a significant end-of-season payday in ’23/24 — was non-guaranteed for the ’24/25 and ’25/26 seasons. That means the Pels won’t carry a dead-money cap hit by cutting Ryan loose.

Ryan’s salary for ’24/25 would have become guaranteed if he had remained under contract through the start of the regular season.

After officially signing Javonte Green, the Pelicans had 15 players on standard contracts, with 13 players on guaranteed salaries. They’re back down to 14 players now, with Jose Alvarado holding the lone non-guaranteed deal.

The Pelicans are still about $1.6MM over the luxury tax line after releasing Ryan, tweets ESPN’s Bobby Marks, with a tax distribution to non-taxpaying teams projected to be a record high of $18.2MM. 13 teams are presently over the tax threshold, Marks adds.

If Ryan clears waivers in a couple days, he will become an unrestricted free agent. As a three-year veteran, he remains eligible for a two-way contract covering one season.