Jrue Holiday was a player that was expected to re-sign with the Pelicans fairly quickly, and that was indeed the case as he and the Pelicans have reportedly come to terms on a deal early Saturday morning.
Holiday and the Pelicans have agreed to a 5-year, $126 million contract. There are bonuses added to the contract that could potentially raise Holiday's deal to $150 million. It will also include a player option on the final year giving Holiday an out if he chooses to exercise it. This will end any rumors that Holiday is going to leave New Orleans.
Free agent guard Jrue Holiday has reached agreement on 5-year, $126M deal to stay with New Orleans, agent Jason Glushon tells ESPN.— Adrian Wojnarowski (@wojespn) July 1, 2017
There were concerns within the Pelicans that Holiday would choose to leave if the two sides couldn't reach a high enough salary. This is a bit of an overpay for a player that's spent a good chunk of his time in New Orleans injured, but the Pelicans didn't have much of a choice. There aren't many upgrades out there they could afford to sign with their current cap situation.
New Orleans now has to go out and give Holiday more weapons. They already have DeMarcus Cousins and Anthony Davis, but their playoff picture has gotten much uglier with how many stars are heading out West. It's going to take more than their current roster to grab a playoff spot and the Pelicans front office knows that.