Jordan Hawkins Hits Free Agency 24 Days After Memphis Trade

Photo: NBA.com. Official Jordan Hawkins headshot, Memphis Grizzlies.

The Memphis Grizzlies and guard Jordan Hawkins mutually agreed to part ways on Friday night, sources told ESPN's Shams Charania, clearing the 2023 lottery pick to hit free agency once he clears waivers.

Hawkins is owed a fully guaranteed $7,021,895 for 2026-27, the final year of his rookie-scale deal, per Spotrac. Buyout terms were not reported. Memphis had taken him from New Orleans on Sept. 8 in a four-player trade that also brought Micah Peavy, a 2031 second-round pick via Toronto, and a 2032 second-round swap. Twenty-four days later, the lottery wing is back on the market.

That is the flip of Hawkins' $5.7 million exit that cleared room for Bennedict Mathurin in New Orleans. The Pelicans saved $5.7 million in the deal, per ESPN's Bobby Marks, and signed Mathurin to a two-year, $16 million contract. The Grizzlies sent back AJ Johnson and Taj Gibson, took the second-round capital, and then had a roster math problem. Memphis entered camp with 18 players on standard contracts against a 15-man limit, and Hawkins was listed with Peavy and Kris Murray "among those most vulnerable," per Brett Siegel of ClutchPoints, as relayed by Hoops Wire.

The minutes had already dropped before the trade. Hawkins averaged 5.1 points in 13.6 minutes across 51 games last season in New Orleans, down from 10.8 points in 23.6 minutes the year before. His three-point percentage went from .366 as a rookie to .331 in 2024-25 and .348 last season. The Sept. 8 deal was supposed to be a reset on a young wing.

The waiver rules decide what comes next. A team that claims Hawkins takes on the remaining $7,021,895 contract. If nobody claims him, he becomes an unrestricted free agent who can sign anywhere, and Memphis still owes the guarantee minus any amount he gives back in a buyout. A No. 14 pick out of UConn with one year left is a low-commitment option for a team that needs shooting.

Memphis keeps the draft capital from the Pelicans deal. The wing group already includes Jaylen Wells, Cedric Coward, Cameron Boozer, Karim Lopez, and G.G. Jackson, per Hoops Wire. Peavy, acquired in the same trade, has been sidelined by an ankle injury and has had little camp time to change the cut order. The roster had 18 standard contracts. Hawkins' exit leaves 17 against a limit of 15.

Hawkins becomes a free agent once he clears waivers. Memphis still has two more cuts to make before opening night.

Sources

• Shams Charania / ESPN on X. Oct 2, 2026. "The Memphis Grizzlies and guard Jordan Hawkins have mutually agreed to part ways, allowing the 2023 lottery pick to find a new home in free agency once he clears waivers, sources tell ESPN."
• Keith Smith on X. Oct 2, 2026. Retweet of Charania's report.
• Shams Charania / ESPN. Sep 8, 2026. Pelicans trade Hawkins, Peavy, a 2031 second-round pick (via TOR), and a 2032 second-round swap to Memphis for AJ Johnson and Taj Gibson; Hawkins No. 14 in 2023; 5.1 points in 51 games / 13.6 minutes last season; 10.8 points in 23.6 minutes in 2024-25; Bobby Marks: trade saves New Orleans $5.7 million.
• NBA.com. Sep 8, 2026. Official trade announcement.
• Spotrac: Jordan Hawkins. 2026-27 salary / cap hit $7,021,895, fully guaranteed, final rookie-scale year; 4-year $20,599,055 rookie scale; 2026-27 club option exercised Oct 18, 2025; draft Round 1 No. 14 overall 2023; agent Ty Sullivan (CAA).
• Hoops Wire / Sam Amico. Oct 1, 2026. Memphis at 18 standard contracts vs 15 allowed; Peavy, Hawkins, Kris Murray among those most vulnerable, per Brett Siegel of ClutchPoints via Hoops Rumors; Peavy ankle sidelined; wing group includes Wells, Coward, Boozer, Lopez, Jackson.
• Basketball-Reference: Jordan Hawkins. Three-point percentage by season: .366 (2023-24), .331 (2024-25), .348 (2025-26).
• The Dyme: Hawkins' $5.7M Exit Clears Mathurin. Sep 9, 2026.
• Photo: NBA.com. Official Jordan Hawkins headshot, Memphis Grizzlies.