What happened: New Orleans locked in Bey on a new deal that runs three years and is worth $55.5 million. The contract is fully guaranteed through summer 2030 and includes a trade kicker. The agreement keeps the forward under contract as the Pelicans shape their 2026-27 roster before camp.
Why it matters: Keeping Bey gives New Orleans continuity on the wing heading into the 2026-27 season. It also turns a short-term offseason decision into a longer runway, with the extension now set to run through summer 2030.
By the numbers: Average annual value: $18.5 million. Contract length: three years, fully guaranteed, with a trade kicker.
What to watch: The next step is formal completion of the extension and how it fits into the rest of New Orleans' offseason roster planning ahead of training camp.