Princepal Singh took the money and ran
It's no secret the New Orleans Pelicans have been looking for the right upgrade to their starting PF spot. Discussions were had regarding Bam Adebayo before he went to the Spurs for Shaquille Harrison - the right deal for the Chicago Bulls, unquestionably. Other veteran PFs have been offered, but no one New Orleans has felt comfortable spending any of their draft capital on.
But then a three-way deal emerged that would give the Pelicans a player who on paper would be an excellent fit in multiple areas, and would only cost them two 2nd round picks. It was, however, contingent on Princepal Singh signing a new five-year deal for an S&T that he was projected to commit to on Tender Day. And then the Los Angeles Clippers swooped in, offering a 2 + 1 contract potentially worth just north of $30 million. And just like that, the deal appeared dead in the water.
"We had to laugh," said a Pelicans official. "Because we predicted last week that the Clippers would do that. It's typical of the mind-boggling, nonsensical way they've been spending their cap this free agency. Why in the world would you sign Singh when you already have Jeremy Sochan and Paolo Banchero on the roster? And if you want to make the trade asset argument because he's going to be available Day 30, there's a few things wrong with that. Let us count the ways.
First, there are a number of better potential trade pieces still in free agency than Singh. Secondly, at 16 minutes a game let's say, you're not going to get the stats generation that will yield anything more than a minor return. Look at this guy's trade history - consistently he's been dealt for other reserves and 2nd round picks.
Third, the contract they gave him was both a significant overpay and too short. There's a world of difference between 5 years, $40 million controlled cost contract with a last year TO and 3 years, $30.4 million where you have to pick up the team option in the last year to vest Bird Rights. Oh, and it's not a controlled cost. It's escalating numbers every year. We projected a fair valuation at around $7-8 million for him. $10 million a season? Overpay. And you don't even have the security of a 4 or 5 year deal that would at least give you a piece to utilize as part of your core. It's 2.5 seasons at most before you have to worry about re-signing him again."
Team officials report they'll see if there's a way they can still revive the original deal but that it's "looking dicey." As a source said, "We refuse to give up Moses Brown because then it's a lateral move at best. So they're going to want draft capital, and we need to look at what that means for us going forward, and if that's the right decision for us. Or do we opt to simply spend cap and go after one of the remaining options in free agency? We'll be spending the night closely examining different scenarios."
At just shy of $20 million after the Princepal poaching, New Orleans has plenty of cash on hand if they go the free agency route and a number of possible targets. "And we don't have to rush either - remember, we played well with OMP and Brown starting at PF last year, so an upgrade at the 4 would be a nice to have rather than a dire need."
