What happened: New Orleans receives AJ Johnson, while Memphis lands Jordan Hawkins, a future second-round pick and a future second-round pick swap. The teams agreed to the deal Tuesday.
Why it matters: The savings give New Orleans room to manage the luxury-tax line and first apron before 2026-27. Memphis adds a guard under team control for two more seasons.
By the numbers: Hawkins averaged 5.1 points in 51 games during 2025-26 and 8.0 points over three NBA seasons. Johnson, the No.
What to watch: Watch how New Orleans uses the flexibility before camp and where Hawkins fits in Memphis' rotation.