The Pelicans and forward Herbert Jones have agreed to a three-year, $68MM extension, according to Shams Charania of ESPN (Twitter link). The deal will feature a player option on the final year, Charania adds.
Jones’ current contract will pay him roughly $13.9MM this season and $14.9MM in 2026/27. His new extension will begin in ’27/28 and will be start at 140% of his previous salary, with 8% annual raises, for a total of $67.6MM.
That means he’s now under contract for five seasons (including the player option in ’29/30) and could earn up to $96.4MM during that time.
The coveted defensive ace has evolved into a leader and mainstay for the Pelicans after being selected 35th overall in the 2021 draft. In four seasons with New Orleans, Jones holds averages of 10.1 points, 3.8 rebounds, 2.5 assists, 1.6 steals and 0.7 blocks per game.
Jones joins Trey Murphy and Zion Williamson as the only Pelicans players on guaranteed contracts through at least 2027/28, though Dejounte Murray and the team’s 2024 and 2025 draftees have options for that season.
Jones has drawn plenty of outside interest due to his lock-down defense and growing three-point ability (he shot 41.8% in his last fully healthy season). However, with both he and Murphy on respectable and affordable deals, New Orleans likely won’t be eager to move either.
Jones, specifically, will have a six-month trade restriction once he officially signs his extension, so he won’t become eligible to be dealt until January.