Larry Nance Jr., Pelicans Agree to 2-Year, $21.6M Contract Extension

The New Orleans Pelicans and Larry Nance Jr. reached an agreement Saturday on a two-year, $21.6 million contract extension.

Nance's agent, Mark Bartelstein, confirmed the new deal to ESPN's Adrian Wojnarowski, who noted the extension will take effect after the final season of the power forward's four-year, $44.8 million contract, keeping him with the Pels through the 2024-25 NBA campaign.

New Orleans acquired Nance in February as part of a blockbuster trade with the Portland Trail Blazers that also landed star shooting guard CJ McCollum in NOLA.

The 29-year-old Cleveland native has averaged 8.1 points, 6.5 rebounds, 1.9 assists and 1.2 steals across 396 NBA appearances since the Los Angeles Lakers selected him in the first round of the 2015 draft. He's also a career 52.9 percent shooter.

While Nance is mostly a complementary player, having a reliable reserve at the 4 is crucial for the Pelicans given the injury issues dealt with by franchise cornerstone Zion Williamson, who missed the entire 2021-22 season because of a foot injury.

The former University of Wyoming standout has been excited by Williamson's performance early in training camp as he prepares for a return to action.

"He looks like Z," Nance told reporters Wednesday. "Dude hasn't played basketball for 500-something days. It's not like none of us are expecting that right away but shoot, I got to be honest with you, dude looks good. It's going to take time for everybody to adjust to him. It's going to take him time to adjust to everybody, but it's hard not to be impressed."

Nance's role may be expanded early in the regular season if New Orleans decides to work Williamson back in gradually, but the veteran reserve will likely settle in around 15-20 minutes per contest when the team is at full strength.

As a whole, the Pelicans are positioned to take a significant step forward this season if their starting lineup of Williamson, McCollum, Brandon Ingram, Jonas Valanciunas and Herbert Jones can stay healthy.

Nance, Devonte' Graham, Jose Alvarado and Jaxson Hayes lead the depth group.

The Pels are scheduled to tip off the regular season Oct. 19 when they visit the Barclays Center to take on Kevin Durant, Kyrie Irving and the Brooklyn Nets in a star-studded opener.