New Orleans Pelicans Re-Sign Recently Released Sharpshooter

The New Orleans Pelicans brought back Matt Ryan after releasing him just last week.

Apr 5, 2024; New Orleans, Louisiana, USA; New Orleans Pelicans forward Matt Ryan (37) looks on against the San Antonio Spurs during the first half at Smoothie King Center. / Stephen Lew-USA TODAY Sports

The New Orleans Pelicans are bringing back forward Matt Ryan on a one-year restructured deal. Ryan was released by the Pelicans last week as part of a cost-savings measure by the team. New Orleans is still slightly over the luxury tax threshold, and Ryan's $2.2 million would have been guaranteed on opening night.

The Athletic's Shams Charania was the first to report the news. Details of the restructured deal were not disclosed.

Pelicans are re-signing wing shooter Matt Ryan to a restructured one-year deal, sources said. https://t.co/7Gn4sUTk44

— Shams Charania (@ShamsCharania) August 26, 2024

The former Notre Dame Fighting Irish standout signed with the Pelicans on a two-way contract before the start of last season. Ryan played well in the opening month of the season, averaging 9.7 points on a blistering 53.2% shooting from beyond the arc during the month of November. He appeared in 28 games last season and the Pelicans converted his two-way contract into a standard deal worth three years, $6.1 million.

Ryan went undrafted in the 2020 NBA draft and didn't catch on with a team as the COVID-19 pandemic event limited his ability to play in the G League. He caught on with the Cleveland Cavaliers summer league team the next season before joining the G League that year.

His first big break came in 2022 when he made the Los Angeles Lakers roster. Ryan famously hit a three-pointer at the buzzer against the New Orleans Pelicans to send a game into overtime. Los Angeles won that game in extra time. The Lakers released him and the Pelicans picked him up to start the next year.

The New Orleans roster goes back to 15 after re-signing Ryan. Players arranged a voluntary workout in California this week before training camp at the start of October. All players are expected to be there, except for Daniel Theis, who played in the Olympics for the German team.

The Pelicans are incorporating a bunch of new faces on the team after losing key rotational players last season like Jonas Valanciunas, Larry Nance, Jr., Dyson Daniels, and Naji Marshall. New Orleans has high hopes this season with the talent on their roster to finally advance past the first round of the playoffs for the first time since 2018.