The New Orleans Pelicans brought back Matt Ryan

The New Orleans Pelicans are set to re-sign forward Matt Ryan on a one-year restructured contract after releasing him last week in a cost-saving move. The team remains slightly over the luxury tax threshold, and Ryan's previous $2.2 million salary would have been fully guaranteed on opening night. Shams Charania of The Athletic first reported the news, though specifics of the new deal haven't been disclosed. 

Ryan, a former Notre Dame standout, originally joined the Pelicans on a two-way contract last season and made an immediate impact. In November, he averaged 9.7 points per game, shooting an impressive 53.2% from three-point range. After appearing in 28 games, his two-way deal was converted into a standard three-year, $6.1 million contract. Despite going undrafted in the 2020 NBA draft, Ryan persevered, eventually catching on with the Cleveland Cavaliers' summer league team and later joining the G League.