Why Pelicans, Saddiq Bey must explore $80 million contract extension this summer

Zion Williamson and James Borrego’s fate are not the only two big decisions facing the New Orleans Pelicans this offseason. Saddiq Bey will be extension-eligible in July, but the rules limit the starting salary of a veteran extension to roughly 140% of the Estimated Average Player Salary, projected to be about $21 million annually. That structure, plus the expected annual eight percent raises, creates a natural framework for negotiations.

It also makes the question of an extension one Joe Dumars and Troy Weaver cannot afford to ignore. The decision could shape the franchise’s direction for the next few years, with or without Williamson in the fold. The former Villanova standout is enjoying a resurgent season, averaging 19.6 points, 6.3 rebounds, 2.8 assists, and 2.1 steals/blocks while shooting 46.9% from the field under Borrego. Meanwhile, the Pelicans have perhaps the two best comparisons already on the books.

Pelicans paying useful comps

The Pelicans will likely start discussions around $55-65 million over four years, likely seeking a team option in the final season to protect against decline or injury. Bey’s camp, armed with his 2025-26 production and the leverage of impending unrestricted free agency, will ask for the maximum ~$90 million allowable. Each side will have pitch portfolios, but DARKO projections and most stat peg Bey as worth slightly less than Trey Murphy III and slightly more than Herb Jones.

That should help the Pelicans push the final number to around $70-75 million over four years, conceding the option in the process. Such a contract would place Bey’s annual salary in the $18.75 million range, comfortably within extension limits while reflecting value as a two-way starter. If he continues trending upward, that type of deal could look team-friendly within two seasons as the salary cap rises.

Just as importantly, it would give the Pelicans three starting-caliber wings with fringe All-Star potential signed through their prime seasons.

Securing an $17-20 million average annual value is far more than Jones claims on taxes, to provide a floor-setting example, so neither side should let this drag out. The injury risk argument cuts both ways, but it cuts hardest against Bey. He already lost an entire season to a torn ACL. His current deal ($6M) runs through 2026-27 with no long-term security beyond that. Suffering a significant injury in the next 18 months without having locked up guaranteed money means entering unrestricted free agency in the summer of 2027 with question marks attached to his value.

Pressure on Saddiq Bey

That is a position no player wants to deal with in their late-20s. For Dumars and Weaver, the risk scenario is equally uncomfortable. If the two sides do not reach an agreement, the Pelicans will face an agonizing choice. Either they deal Bey before the 2027 NBA Trade Deadline to recoup assets before losing him for nothing, or bet on re-signing him in free agency against a full open market. That is not a bet the small-market misfit organization should want to make on a player this good.

Bey is a plus defender with legitimate offensive upside who does not need the ball to impact the game. Jones, Murphy III, and Bey give the Pelicans three of the better wings in the conference, all entering their primes. Securing the trio at a combined cap cost that remains manageable creates real long-term flexibility while keeping an exciting core intact.

Haggling over a few million dollars, watching Bey walk in free agency, or trading him for a couple of second-round picks that will likely never amount to anything is a mistake front offices make far too often during rebuilding season. Agents have been fired for losing $20 million because they wanted to fight over $2 million.

The player is restricted from getting much more due to the CBA, while the franchise has historically flopped in free agency. A deal provides clarity and alleviates pressure ahead of what is arguably the most important offseason for everyone involved. In a league where mid-level wings command $15-$20 million per year, locking in this reasonable rate should be easy business in the Big Easy.

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