AUGUST 6: The Hornets’ new deal with Chealey is now official, the team announced today in a press release. It’s an Exhibit 10 contract, according to Rick Bonnell of The Charlotte Observer (Twitter link).
AUGUST 1: After spending the entire 2018/19 season on a two-way contract with the Hornets, former Charleston guard Joe Chealey is expected to rejoin the team as a free agent.
Edge Sports, Chealey’s agency, published a tweet this week congratulating him on his new deal with the Hornets. However, the announcement doesn’t specify what kind of contract he’ll sign, and the team has yet to issue an official update. An Exhibit 10 pact is probably the most likely outcome, but Charlotte does still have a two-way slot open too.
Chealey, 23, signed with the Hornets as an undrafted free agent in July 2018 and had his contract converted to a two-way deal in October. He only appeared in one game with the NBA club in his rookie season, but was a regular starter for the Greensboro Swarm, Charlotte’s G League affiliate.
In 43 NBAGL games (31.3 MPG), the young point guard averaged 16.3 PPG, 5.3 APG, and 3.7 RPG with a .436/.340/.773 shooting line. His season ended in March when he suffered a torn left meniscus.
Chealey and fellow two-way player J.P. Macura became unrestricted free agents this summer, with the Hornets signing Robert Franks to fill one of the newly-opened two-way contract slots. Second-round pick Jalen McDaniels looks like the best candidate for the second slot, but the team has yet to tip its hand.