Norris Cole signs 1-year, $3-million qualifying offer with Pelicans
After reportedly being stuck at an impasse in contract negotiations as recently as Tuesday, restricted free-agent point guard Norris Cole agreed to sign the New Orleans Pelicans' one-year, $3-million qualifying offer Wednesday.
Cole's agent, Rich Paul, confirmed the agreement to Marc J. Spears of Yahoo Sports.
The Pelicans acquired Cole from the Miami Heat at last season's trade deadline, after which he proceeded to average 9.9 points, shoot 44.4 percent from the field and 37.8 percent from deep, and post a 12.6 PER - all career highs.
New Orleans offered Cole the qualifying offer in order to retain his RFA matching rights, and while it sat on the table, the two sides failed to come to terms on a long-term extension, ultimately setting Cole up to hit unrestricted free agency next summer for the first time.
Pelicans superstar forward Anthony Davis and new head coach Alvin Gentry had both expressed a desire to see Cole return.
"He's an important part of our team," said Gentry.
"We would definitely love to have him back with no question," said Davis.
With starting point guard Jrue Holiday returning from a recurring stress fracture in his right leg, and expected to enter the season on a minutes restriction, Cole's role will likely outstrip his designation as a backup.
The Pelicans went 18-10 with him in the lineup last year.