Norris Cole has been on the free agent market for quite a while now, as he was not exactly thrilled with the qualifying offer extended to him by the New Orleans Pelicans. There were reports earlier this week that Cole and the Pelicans were getting nowhere in negotiations and that he might not be signed until training camp had already started. It is now being reported that Cole has accepted the one-year qualifying offer from the Pelicans worth a little more than $3 million, according to Brian Windhorst of ESPN.
The Pelicans had made it clear all offseason, whether it was new head coach Alvin Gentry, or star player Anthony Davis, that they wanted Cole back. Cole is represented by Rich Paul, who has become known for doing this sort of thing when he thinks his players are worth more than they are being offered like he is doing with Tristan Thompson. Thompson is likely to end up doing the same thing Cole has done by accepting the qualifying offer, but the hope was that the team would get desperate and throw out a better offer.
Cole will now play on a one-year deal in a system that should make him look quite good and become a free agent next summer with the cap going way up, so things should work out just fine for Cole in the end. Cole may think he is worth more than $3 million right now, but if he plays well this season, he will be due a major pay day next summer.
Cole was acquired by the Pelicans midseason last year, and in 28 games he averaged 9.9 points and 3.2 assists per game while making 38 percent of his threes. The 28 games with the Pelicans was Cole's best stretch in the NBA and he is expected to play a huge role in Gentry's offense this season as the backup point guard. Jrue Holiday is the starting point guard, but he is still dealing with injury issue, so if he misses time during the season, Cole's role will be even bigger.
Because Cole accepted the qualifying offer, he will also have to consent to any trade he is included in, although that is unlikely as the Pelicans are expected to be a good team. Cole had interest from the Philadelphia 76ers and the New York Knicks earlier this offseason but was always likely to stay in New Orleans for one more year. Accepting the qualifying offer now makes it less likely he will be in New Orleans beyond this year.
