What happened: New Orleans receives AJ Johnson and Taj Gibson while sending Micah Peavy, a future second-round pick and a future second-round pick swap to Memphis. The 2023 No. 14 pick spent his first three NBA seasons with the Pelicans.
Why it matters: Memphis now has two UConn title winners in Hawkins and Cam Spencer, who won in consecutive years. Hawkins enters a guard room that also includes Scotty Pippen Jr., Cedric Coward, Walter Clayton Jr., Ty Jerome and Javon Small.
By the numbers: Hawkins' scoring rose from 7.8 points per game as a rookie to 10.8 in his second season, then fell to 5.1 over 51 games in 2025-26. He made 21 of 41 3-pointers during UConn's 2023 NCAA Tournament title run.
What to watch: Training camp will clarify how Hawkins and Peavy fit into Memphis' 2026-27 rotation.