NBA official transactions and team announcements

Wizards Acquire Valančiūnas Using $9.8M Trade Exception in Deal with Pelicans

Jul 6, 2024, 08:29 PM

On July 6, 2024, the Washington Wizards acquired veteran center Jonas Valančiūnas from the New Orleans Pelicans in a sign-and-trade deal. The Wizards are using the $9.8 million trade exception created by the Monté Morris deal to facilitate the acquisition. In return, the Pelicans will receive a protected 2027 second-round pick from Chicago, which is protected for picks 31-50. This transaction allows Washington to preserve their $12.8 million non-taxpayer mid-level exception (NTMLE) while the Pelicans generate a $9.5 million trade exception. The Wizards were already hard capped at the $178.1 million first apron due to the Malcolm Brogdon trade.