Report: Pelicans, RFA Norris Cole remain at standstill in contract talks

With training camps opening in less than two weeks, Norris Cole stands as one of the most recognizable names still on the market.

The restricted free agent remains at a standstill in negotiations with the New Orleans Pelicans, according to a report from John Reid of The Times Picayune. The Pelicans still have his rights, meaning they would have the opportunity to match any offer sheet Cole signed elsewhere, and Reid reports that the team still wants to bring him back.

Superstar Anthony Davis is on record as hoping Cole, acquired at the trade deadline last season, will return. That's a sentiment new head coach Alvin Gentry echoed to Reid.

"Obviously we would like to have him back on our team," Gentry said. "He's an important part of our team, but that's something that will have to get answered on the (front office) side of it."

In order to retain Cole's rights, the Pelicans had to offer him a one-year, $3-million qualifying offer. He still has the option to sign that offer and play out the season, becoming an unrestricted free agent next summer. With few teams around the league having the cap space to offer more - Reid reports that the Philadelphia 76ers and Los Angeles Lakers were once interested, but both have recently added point guard depth - that may represent Cole's best option for a one-year annual salary.

That doesn't preclude the sides from working out a multi-year agreement, and Cole's agent, Rich Paul, has quickly earned a reputation for being willing to play games of chicken with his restricted free agents.

The Pelicans could certainly use Cole, as they have just one natural point guard on the roster. That guard, Jrue Holiday, is likely to enter the season on a minutes restriction, meaning the team would once again be left to play Tyreke Evans at the one - a serviceable alignment, but one that sacrifices wing depth. Cole would pencil in as the team's primary backup and a potential spot-starter when Holiday requires additional rest.

The 26-year-old Cole has averaged 6.6 points and 2.6 assists over four NBA seasons, shooting 41 percent from the floor and 32.6 percent from long range. He played his best stretch of ball after landing in New Orleans last season, averaging 9.9 points in 28 games.