Norris Cole Signs Qualifying Offer With New Orleans Pelicans

Norris Cole signed his 1 year, $3.03 million qualifying offer from the New Orleans Pelicans today, according to multiple reports.

Cole and his agent Rich Paul had hoped the NBA market would lead to a better offer from an outside team, forcing the Pelicans to match, or potentially allowing Cole to sign elsewhere.

As a restricted free agent, New Orleans let the market place dictate the 26 year old's value. With no substantial offer made elsewhere over the last two months, Cole has agreed to sign the offer.

However, he did receive a bonus stipulation in the offer of a no-trade clause.

At 26 years old, a strong season from Cole will lead to a better payday next offseason when he is an unrestricted free agent and the NBA's new nine-year, $24 billion TV deal kicks in.

Cole, a 6'2 guard, joined the Pelicans in February via trade. His playoff history and NBA championship pedigree was a welcome addition to the New Orleans locker room, as was his play on the court. He quickly developed a friendship with Pelicans superstar Anthony Davis, as the two hung out during off days of the Pelicans playoff series against the Golden State Warriors.