On Friday, the New Orleans Pelicans adjusted their roster in a financially motivated move that left them just $1.6 million above the luxury tax line. The tax payout to teams that stay under that threshold is expected to be a record $18.2 million. Despite waiving Matt Ryan at the start of last weekend while still meeting the league requirement of having 14 players signed to standard contracts, New Orleans re-signed the six-foot-six sharpshooter on Monday, according to Shams Charania of The Athletic.
In 28 games with the Pelicans last regular season, including one start, Ryan averaged 5.4 points and hit 45.1 percent of his 3.3 three-point attempts per game. That performance earned him a three-year, $6.1 million contract in late April. However, while his $1.5 million salary for the 2023-24 season was guaranteed, his $2.2 million salary for 2024-25 wasn’t going to be fully guaranteed until the first day of the upcoming season. Ryan is now back with the team on a restructured one-year deal.
The former Notre Dame standout ended the 2021-22 season with the Celtics, appearing in one regular season game and making a playoff appearance during their Finals run that year. The three-year veteran is a 41.1 percent three-point shooter, averaging 4.4 points per game in his career.