Pelicans Waive Dalen Terry
The Pelicans have requested waivers on guard/forward Dalen Terry, the team announced on Friday (Twitter link via Will Guillory of The Athletic).
New Orleans just acquired Terry (and two second-round picks) on Thursday in the trade that sent Jose Alvarado to New York. The Knicks landed Terry in a separate deal with Chicago.
The 18th overall pick in the 2022 draft after two college seasons at Arizona, Terry never developed into a reliable rotation player in his three-and-a-half years with the Bulls. The 6’6″ wing has appeared in 34 games in 2025/26, averaging 3.5 points, 1.9 rebounds and 1.3 assists in 11.1 minutes per contest.
Assuming Terry goes unclaimed, which seems highly likely, the Pelicans will carry a dead-money cap hit of $5,399,118. They also opened a spot on their standard roster, and Guillory suggests the team plans to promote Bryce McGowens from his two-way contract.
Still just 23 years old, Terry could be a candidate to catch on with another team before the season ends. For what it’s worth, he would qualify for a two-way deal that covers the remainder of ’25/26 once he hits free agency and is eligible to sign with any team except the Knicks.
Southwest Notes: Sochan, Spurs, Mavs, Pelicans
The Spurs were widely expected to make a move this week involving fourth-year forward Jeremy Sochan, who had “hoped to find a new home” at Thursday’s trade deadline, writes Jared Weiss of The Athletic. Instead, Sochan remains in San Antonio, as the Spurs were one of just three teams around the NBA not to make a single deal during the days leading up to the deadline.
According to Weiss, the Spurs talked to the Knicks about Guerschon Yabusele and Pacome Dadiet, the Bulls about Dalen Terry and Julian Phillips, and the Suns about Nick Richards, but they didn’t find a deal they liked and didn’t feel compelled to move Sochan without getting value in return.
Although Sochan may not be part of the Spurs’ plans beyond this season, he has no plans to negotiate a buyout and should finish the season in San Antonio, a source tells Weiss. The Spurs may have another chance this summer to recoup some value for the former No. 9 overall pick in a sign-and-trade scenario.
Here’s more from around the Southwest:
- Count star big man Victor Wembanyama among those who are pleased that the Spurs didn’t make any roster changes at the trade deadline. “What I love is that the front office trusts these guys just like I do,” Wembanyama said, per Jeff McDonald of The San Antonio Express-News (subscription required). “We’re on the same page.” Stephon Castle, De’Aaron Fox, and Harrison Barnes were among the other Spurs who voiced support for the front office’s approach. “When you’re in a situation where you’re winning games, you don’t feel like you have to make a lot of moves,” Barnes said. “We’re happy to live with that and continue to build with that.”
- The Mavericks and Wizards originally had exploratory Anthony Davis trade talks in early November before eventually reaching an agreement this week, reports Christian Clark of The Athletic. As Clark details, the Mavs were happy that word of those talks didn’t leak and that they were able to inform Davis of the deal face-to-face before word broke publicly. Mike Curtis of The Dallas Morning News (subscription required), meanwhile, writes that the team accomplished its goals of creating cap flexibility, adding draft assets, and addressing the point guard spot (by looping Tyus Jones into the deal).
- Reacting to the Pelicans‘ relatively quiet trade deadline, Rod Walker of NOLA.com (subscription required) says it wasn’t a surprise that the team moved on from Jose Alvarado, who can become a free agent this summer, but acknowledged that fans may be frustrated to lose a key spark plug while the front office was inactive on other fronts. Besides Zion Williamson, Herbert Jones, and Trey Murphy III, who had seemed off-limits for weeks, rumored trade candidates Jordan Poole, Jordan Hawkins, Yves Missi, Saddiq Bey, and Dejounte Murray also didn’t go anywhere.
- The Pelicans are taking steps toward relocating their G League team – which currently plays in Birmingham, Alabama – to Louisiana, writes Patrick Magee of NOLA.com (subscription required). According to Magee, the Kenner City Council gave its unanimous approval on Thursday to a proposal that would bring the Squadron to the city’s Pontchartrain Center. The tentative plan is for the Pelicans’ G League team to begin playing in Kenner, a suburb of New Orleans, in 2026/27.
Pelicans Trade Jose Alvarado To Knicks
9:02 pm: The trade is official, according to the Knicks (Twitter link). New York also acquired the draft rights to Latavious Williams, a 36-year-old forward who is currently playing in Saudi Arabia, tweets Steve Popper of Newsday.
11:33 am: New York native Jose Alvarado is heading home, according to Shams Charania of ESPN, who reports (via Twitter) that the Pelicans have agreed to a deal that will send the fifth-year guard to the Knicks.
According to Ian Begley of SNY.tv (Twitter link), New York will send a pair of second-round picks along with Dalen Terry to New Orleans in exchange for Alvarado. The Pelicans will also receive cash, per Charania (Twitter link).
The two second-rounders headed to New Orleans are 2026 and 2027 selections, adds James L. Edwards of The Athletic (Twitter link). Jake Fischer of The Stein Line (Twitter link) has the full details on those selections — the 2026 pick figures to be Detroit’s second-rounder, while the 2027 pick will be the second-most favorable of four teams’ picks.
Alvarado had been connected to the Knicks in rumors for much of the season leading up to the trade deadline. New York was in the market for backcourt help and the 27-year-old was viewed as a logical fit due in part to his affordable $4.5MM cap hit, which the Knicks could accommodate by sending out Guerschon Yabusele ($5.5MM).
The Pelicans reportedly weren’t interested in taking back Yabusele, whose contract includes a 2026/27 player option, so the Knicks found another taker, making a deal with Chicago for Terry, and will flip the newly acquired forward to New Orleans in this deal — it’s also possible the two moves will be officially completed as a single transaction.
Considered a tenacious defender who brings energy off the bench, Alvarado has averaged 7.9 points, 3.1 assists, and 2.8 rebounds in 21.9 minutes per game across 41 appearances for the Pelicans this season. His shooting line is .418/.363/.833.
Alvarado’s contract features a $4.5MM player option for next season. If he opts out of his deal, the Knicks would have the ability to re-sign him using his Bird rights, but they may prefer for him to opt in and negotiate an extension that begins the following season, since it would help keep the team’s payroll in check for 2026/27.
The Knicks’ need for backcourt depth was heightened on Thursday as the team got word that Miles McBride will require core muscle surgery that could sideline him until the postseason, so Alvarado is well positioned to take on a significant role upon joining his new team.
New York will now have enough breathing room below its second-apron hard cap to sign a 15th man to a minimum-salary contract rather than having to wait until late in the season to do so.
As for the Pelicans, while they were widely viewed as one of the biggest potential sellers at this year’s deadline, they’ve been quiet to this point, having reportedly told teams they wouldn’t be moving prime trade chips like Zion Williamson, Trey Murphy III, and Herbert Jones. While potential suitors believed that stance might change if the offers were strong enough, New Orleans hasn’t been convinced to move anyone besides Alvarado so far.
Warriors Trade Trayce Jackson-Davis To Raptors
February 5: The trade is official, the Warriors confirmed (via Twitter).
February 4: The Warriors will send backup center Trayce Jackson-Davis to the Raptors in exchange for a 2026 second-round pick that originally belonged to the Lakers, according to ESPN’s Shams Charania (Twitter link).
Jackson-Davis, 25, saw rotation minutes during his first two seasons, but his role has been reduced this year. He has appeared in just 36 games and is averaging 4.2 points and 3.1 rebounds in 11.4 minutes per night.
He makes $2.2MM this season and his contract includes a $2.4MM team option for 2026/27.
Charania notes that Toronto adds some size to its frontcourt by using the space created by trading Ochai Agbaji earlier in the day while managing to stay out of tax territory.
The Raptors explored several options for another big man, including the Pelicans‘ Yves Missi, the Nets‘ Day’Ron Sharpe and the Magic’s Goga Bitadze, tweets Josh Lewenberg of TSN Sports. However, it would have taken a first-round pick to land any of them and the Raptors were comfortable picking up Jackson-Davis while parting with the second-rounder they acquired when they sent Davion Mitchell to Miami a year ago.
The Jackson-Davis trade, coupled with the deal that sends Jonathan Kuminga and Buddy Hield to Atlanta, gives the Warriors enough roster flexibility to convert two-way guard Pat Spencer to a standard deal, notes Jake Fischer of The Stein Line (Twitter link). Spencer is just one game away from reaching his limit of 50 active games.
No Trades Involving Morant, Kawhi, Sabonis, Zion, More
The Bucks informed rival teams a few hours ahead of Thursday’s deadline that they wouldn’t be trading superstar forward Giannis Antetokounmpo, and several other noteworthy players will remain with their respective teams after the deadline passed at 2:00 pm CT.
Point guard Ja Morant was available on the trade market for at least four weeks, but even after lowering their asking price, the Grizzlies were unable to find a taker for the two-time All-Star, confirms Brett Siegel of ClutchPoints (via Twitter). According to Siegel, Memphis will revisit trade talks for Morant in the offseason.
According to Shams Charania of ESPN (Twitter link), while a few teams were “intrigued” by the 26-year-old’s talent, none were willing to make a “serious offer.” The Kings, Bucks, Heat and Timberwolves were all linked to Morant in recent days, though there’s no indication that talks ever reached an advanced stage.
As Siegel writes, the Grizzlies were looking for a first-round pick for the two-time All-Star, but no teams were willing to meet that asking price. Miami, for instance, was only willing to give up expiring contracts and second-round picks for Morant, sources tell Siegel.
Morant’s injury history and maximum-salary contract limited his appeal on the trade market, per Grant Afseth of Dallas Hoops Journal. The former No. 2 overall pick is on a guaranteed deal that runs through 2027/28.
“You’re committing to several years, and if it doesn’t work, you’re probably carrying that contract until it’s an expiring at least,” one league source told Afseth. “Most teams would want to be compensated just to take that deal on, whether they believe in Morant or not.”
The Clippers made a pair of major trades, swapping James Harden for Darius Garland and sending Ivica Zubac to Indiana for two first-round picks, one second-rounder, Bennedict Mathurin and Isaiah Jackson. All-Star Kawhi Leonard won’t be going anywhere though, tweets NBA insider Chris Haynes.
Two-time All-NBA big man Domantas Sabonis, who was repeatedly linked to Toronto until Sacramento’s talks with the Raptors “flat-lined,” will stay put with the Kings, sources tell Jake Fischer of The Stein Line (Twitter link). The Kings were also unable to find suitable deals for Zach LaVine, DeMar DeRozan and Malik Monk, per Haynes (Twitter link).
Jarrett Allen (Cavaliers), Lauri Markkanen (Jazz), LaMelo Ball (Hornets), and Zion Williamson, Trey Murphy III and Herbert Jones of the Pelicans are among the other noteworthy players whose names came up in trade speculation this season who will remain with their respective clubs.
Of course, we saw a flurry of trades that did transpire in the lead-up to the deadline. The full list can be found here.
Trade Rumors: Giannis, Morant, Alvarado, Knicks, Raptors
While Thursday is usually the busiest day of the NBA’s trade deadline week, Tuesday and Wednesday have been more active than usual this season, observes Fred Katz of The Athletic.
There are a number of reasons why that may be the case, but one front office executive who spoke to Katz believes teams are reacting to what happened at last year’s deadline, when physical exams affected two trade agreements. The Sixers and Mavericks slightly reworked the terms of their Caleb Martin/Quentin Grimes deal due to concerns about Martin’s physical, while the Lakers and Hornets rescinded their Mark Williams trade as a result of Williams’ physical.
The Philadelphia/Dallas deal was agreed to and finalized on the Tuesday before the deadline, which allowed the two teams to conduct physical and then amend the terms on Thursday. However, because Los Angeles and Charlotte finalized their deal on Thursday, the issues with Williams’ physical didn’t arise until after the deadline, when negotiations couldn’t be reopened. At that point, the Lakers had just two options: approve the deal anyway or nix it altogether.
Several teams making deals at this year’s deadline may have those situations in the backs of their mind, Katz explains, prompting them to get their business done a little earlier in the week.
Here are more trade rumors from around the NBA, with the deadline just over five hours away:
- The Timberwolves and Heat don’t believe they’re out of the running for Giannis Antetokounmpo, but like Golden State, they remain skeptical that the Bucks are ready to get a deal done today, reports Jake Fischer of The Stein Line (Twitter link). Fischer, who previously identified Milwaukee as a team to watch on the Ja Morant front, also continues to hear that the Bucks remain engaged with the Grizzlies about the star point guard.
- Pelicans guard Jose Alvarado remains on the Knicks‘ radar, according to Ian Begley of SNY.tv (Twitter link). While New York reportedly didn’t have much luck selling New Orleans on a deal that included Guerschon Yabusele, the team may have more success with Dalen Terry‘s expiring contract after agreeing to send Yabusele to Chicago. The Knicks have also expressed interest in Yves Missi, but the Pelicans have reportedly insisted on a first-round pick for him to this point. New York’s only tradable first-rounder is Washington’s top-eight protected 2026 pick, which will likely turn into second-rounders.
- It’s been a busy week for the Bulls, who have finalized three trades and agreed to two more, but they may not be done dealing yet. According to Joe Cowley of The Chicago Sun-Times, the Bulls’ front office was still talking to teams as of Wednesday night, with a “focus” on the Pelicans and Rockets. Chicago has been linked to Zion Williamson and Missi from New Orleans and Tari Eason from Houston, Cowley notes. However, he says the Bulls haven’t made real progress on the Pelicans’ players, and reports have indicated the Rockets are very resistant to moving Eason.
- After agreeing to two minor deals on Wednesday to duck the luxury tax and add Trayce Jackson-Davis, the Raptors are unlikely to make a major move ahead of Thursday’s deadline, Michael Grange of Sportsnet (Twitter video link) and TSN’s Josh Lewenberg (Twitter video link) said during TV appearances. Toronto has been linked to several notable big men, but some (Anthony Davis and Jaren Jackson Jr.) have been traded to other teams, while Domantas Sabonis appears likely to remain in Sacramento.
Knicks Notes: Yabusele, Brunson, Shamet, McBride
The Knicks are hoping to trade Guerschon Yabusele for a more productive bench player, but teams are reluctant to take on his contract, according to Brett Siegel of ClutchPoints. Sources tell Siegel that New York recently reached out to the Spurs and Pelicans, but wasn’t able to make any progress toward a deal. The main sticking point is Yabusele’s $5.7MM player option for next season, which he’s almost certain to exercise after a disappointing campaign where he’s fallen out of the Knicks’ rotation.
Sport5 in Israel reported that Hapoel Tel Aviv is involved in negotiations with Yabusele in case he leaves the NBA, relays Alessandro Maggi of Sportando. Yabusele is considered a “high-profile target” with several European teams monitoring him, Maggi adds. However, he can only head overseas if he’s bought out and waived, which may be tricky due to the player option.
Yabusele addressed that rumor after Tuesday’s game, per Stefan Bondy of The New York Post (Twitter link).
“I ain’t closing no door on nothing. I don’t know what’s going to happen,” Yabusele said. “I don’t know what tomorrow’s going to be. So right now I can tell you nothing has been discussed or signed or anything like that. I’m a Knicks player at the end of the day. There’s nothing with that. But there’s been teams calling, so yeah, I feel like the report was just them saying they want me and then everybody thought that I signed something already. No, nothing like that. But there’s some teams out there that we heard are getting ready to sign me if I go back that way. We’ll see what happens.”
There’s more from New York:
- Jalen Brunson claims his actions after a 17-point loss to Dallas on January 19 were mischaracterized as a players’ meeting, Bondy writes in a full story. Brunson explains that he simply made some comments to his teammates before coach Mike Brown entered the locker room. “It was just me voicing my opinion after the game against Dallas,” Brunson said. “It wasn’t me calling a team meeting. We meet after games. I said something before coach walked in. That’s it.”
- Landry Shamet is rewarding Brown’s faith in him, Bondy states in a separate story. Brown was a strong supporter of Shamet, who was among three players brought into training camp on non-guaranteed contracts to compete for a roster spot. And when Shamet suffered a shoulder injury in November, Brown told reporters that he would be willing to give up his salary to keep him on the team. Brown talked about using Shamet in a larger role when he interviewed for the head coaching job, states James L. Edwards of The Athletic (Twitter link).
- The Knicks have conducted tests on Miles McBride, who’s missing his fifth straight game tonight due to left ankle issues, Bondy adds in another piece. McBride suffered a high ankle sprain in early December that sidelined him for eight games. He returned for 15 games before being held out recently due to left ankle injury management.
- Bondy examines the most and least likely players to be moved by the deadline, with Yabusele topping his list, followed by Pacome Dadiet and Ariel Hukporti.
Trade Rumors: Bulls, Dosunmu, Allen, Missi, Rockets, Pelicans, More
There have been some “tangible” discussions this week between the Bulls and Pacers about a possible trade involving Ayo Dosunmu and Bennedict Mathurin, reports Jake Fischer of The Stein Line (Substack link). However, after Chicago agreed to trades for guards Jaden Ivey and Anfernee Simons on Tuesday, it’s unclear whether the team still has interest in Mathurin, who is also on the Pelicans‘ radar.
According to Fischer, the Bulls also explored multiple trade scenarios involving Nikola Vucevic before agreeing to a Simons trade with Boston, including offering Vucevic and a future first-round pick to the Cavaliers for Jarrett Allen. That’s a deal Cleveland wouldn’t have been able to make without ducking the second tax apron, since Vucevic’s $21.5MM cap hit comes in a little above Allen’s $20MM figure.
Whether due to the apron restrictions or simply a lack of interest, Cleveland turned down the offer, per Fischer, who adds that the Pacers are another team that has registered interest in Allen.
While the Bulls may not have a viable path to acquiring Allen, they remain very much in the mix for Pelicans center Yves Missi, reports Brett Siegel of ClutchPoints. According to Siegel, New Orleans has continued to seek a first-round pick in exchange for Missi, but no team has been willing to meet that asking price so far.
Here are a few more trade rumors from around the NBA:
- Speaking of the Bulls, it’s worth keeping an eye on whether they end up flipping Mike Conley in a separate trade after acquiring him from Minnesota on Tuesday, Fischer writes. There have been rumblings that if Conley is traded again and then waived, the Timberwolves would have interest in bringing him back on a minimum-salary deal. That wouldn’t be possible if Chicago waives Conley directly due to NBA rules about a traded player rejoining his previous team.
- The Rockets have been connected to Bulls guard Coby White, among other targets, with forward Dorian Finney-Smith viewed as a possible trade candidate, but Siegel hears that Houston likes its roster and would be content to stand pat at the trade deadline — or to make a smaller move or two involving minimum-salary or near-minimum players. Forward Tari Eason, who will be a restricted free agent in the offseason, has drawn significant interest, but the Rockets aren’t interested in moving him, Siegel adds.
- Sources tell ClutchPoints that the Pelicans have received offers that include multiple first-round picks for both Trey Murphy III and Herbert Jones, but they still haven’t seriously entertained the idea of trading either player. It remains very possible that New Orleans maintains its high asking prices for Murphy and Jones and keeps both players through the deadline, despite significant league-wide interest in them, Siegel writes.
- The Clippers continue to seek potential takers for Chris Paul and Kobe Brown, Siegel reports, since moving those players would help create breathing room under the hard cap – and room on the roster – to promote Jordan Miller and Kobe Sanders from their two-way deals to standard contracts.
- Recognizing that whether or not he’s traded this week is “something that’s out of my control,” Nets forward Michael Porter Jr. says he’s at peace with whatever happens, according to Brian Lewis of The New York Post. For what it’s worth though, Lewis writes in a separate subscriber-only story that more and more league sources believe Porter will ultimately end up remaining in Brooklyn through this Thursday’s deadline.
Lakers Rumors: Wing Targets, DiVincenzo, Knecht, Sharpe
Although the Lakers remain active on the trade market, their limited assets and their desire to retain as much 2026 cap room as possible are complicating factors as they look to upgrade their roster, writes Dan Woike of The Athletic.
Some rival executives believe the Lakers are willing to trade their 2031 or 2032 first-round pick for the right wing, Woike writes, but the sort of player they’d be targeting with that pick either isn’t available at that price or isn’t available at all — that group includes Pelicans forwards Herbert Jones and Trey Murphy III.
A league source tells Woike that the Lakers have been linked to practically every defensive-minded wing on the market, including Isaac Okoro of the Bulls and Derrick Jones Jr. of the Clippers. But it seems unlikely Los Angeles would give up its lone tradable first-round pick for a player of that caliber, especially since guys like Okoro and Jones are owed guaranteed money for 2026/27 and would eat into the club’s projected cap space.
As previously reported, the Lakers could emerge as a viable Giannis Antetokounmpo suitor this summer if the Bucks don’t move him at the deadline, but for now, any potential L.A. involvement in a Giannis deal would likely be as a facilitator.
Woike identifies Timberwolves wing Donte DiVincenzo and Cavaliers center Jarrett Allen as a couple players from potential Antetokounmpo suitors who might appeal to the Lakers, and Brett Siegel of ClutchPoints hears that L.A. has expressed interest in DiVincenzo.
Those talks haven’t gained traction though, Siegel writes, and Minnesota would likely only move DiVincenzo if it was necessary to land Giannis. Even in that scenario, it’s unclear whether the Lakers would be the Wolves’ most obvious trade partner or if there’s another team more likely to give up valuable draft capital for DiVincenzo.
Dalton Knecht, the Lakers’ 2024 first-round pick, hasn’t requested a trade, but wouldn’t object to a change of scenery, Woike writes, so he’s a player to keep an eye on if the team does make a deal.
The Lakers are also considering potential non-wing trade targets — sources tell The Athletic that Nets center Day’Ron Sharpe has fans within the organization.
Still, Woike believes that any meaningful changes to the Lakers’ roster are probably more likely to happen this summer than this week.
Cooper Flagg, Kon Knueppel Once Again Named Rookies Of Month
Mavericks forward Cooper Flagg and Hornets wing Kon Knueppel have once again been named the Western and Eastern Conference Rookies of the Month, respectively, for games played in January, according to the NBA (Twitter links).
Flagg and Knueppel, who were Duke teammates last season, have monopolized the award this season, gaining those monthly honors three consecutive times. No one else has won it this season, as the months of October and November were combined.
Flagg, the top overall pick, averaged 20.8 points, 7.2 rebounds and 4.5 assists per game last month. He capped off the month with a 49-point eruption against Charlotte and 34 points against Houston.
Knueppel averaged 17.8 points, 5.9 rebounds and 3.6 assists per night in January. He scored a season-high 34 points in the same game Flagg scored 49.
Ace Bailey (Jazz), Cedric Coward (Grizzlies), Caleb Love (Trail Blazers) and Derik Queen (Pelicans) were the other Western Conference nominees. Egor Demin (Nets), VJ Edgecombe (Sixers), Tre Johnson (Wizards) and Collin Murray-Boyles (Raptors) were also nominated in the East.