1:02 pm: Payton’s new 10-day contract is now official, the Hornets confirmed in a press release. It will run through next Thursday (Feb. 27).
12:45 pm: Following the expiration of his first 10-day contract with the Hornets earlier this week, veteran point guard Elfrid Payton has agreed to a second 10-day deal with the team, agent Darrell Comer tells Michael Scotto of HoopsHype (Twitter link).
Charlotte is short on point guard depth after having traded Vasilije Micic to Phoenix at this month’s deadline. Tre Mann has been out for most of the season due to a back injury and LaMelo Ball has been in and out of the lineup due to ankle issues.
A former No. 10 overall pick, Payton appeared in two games for the Hornets during his first 10 days with the team, averaging 2.0 points, 5.5 assists, and 2.5 rebounds in 27.5 minutes per night. He had a stint with another banged-up team – New Orleans – earlier this season and put up 6.7 PPG, 6.9 APG, and 3.4 RPG in seven outings (20.6 MPG) for the Pelicans.
The Hornets have a full 15-man standard roster, but won’t need to waive anyone to open up a spot for Payton because they qualify for a hardship exception due to longer-term injuries affecting Mann, Brandon Miller, Grant Williams, and Josh Okogie. That exception allows them to temporarily go beyond the usual roster limit.
Payton will earn a $171,756 salary on his new 10-day contract, while Charlotte carries a cap charge of $119,972. The Hornets have a busy schedule coming up in the next 10 days, including multiple back-to-back sets, so the 30-year-old will be available for up to six games if he officially signs on Tuesday or Wednesday.
Once Payton’s second 10-day deal expires, he won’t be eligible to sign a third one with the Hornets.