5:37pm: The move is official, according to a tweet from the Pelicans.
4:10pm: The Pelicans picked up former Bucks forward Christian Wood on waivers, tweets ESPN’s Adrian Wojnarowski. Jason Smith has been waived to create a roster opening, according to Shams Charania of The Athletic (Twitter link).
Milwaukee parted with Wood on Monday to make room for Tim Frazier, who was signed to bolster the backcourt after an injury to Malcolm Brogdon. There was speculation that Wood might draw interest on the waiver wire because of the promise he showed in the G League and a $1,645,357 salary for next season that is non-guaranteed. He will receive $822,679 if he’s not waived before opening night, tweets ESPN’s Bobby Marks. With the waiver claim, New Orleans inherits Wood’s $1,512,601 cap charge for this year, which is removed from the Bucks’ books.
Wood, 23, got into just 13 games during his time in Milwaukee, playing less than five minutes per night. He made a huge impact in the G League, averaging 29.3 PPG, 14.0 RPG, 2.4 APG and 2.1 BPG on 55.9% shooting in 28 games (35.3 MPG) for the Wisconsin Herd. He has previous NBA experience with the Sixers and Hornets.
Wood may get a greater chance to prove himself with the Pelicans, who are playing Anthony Davis on a limited schedule and are thinking about shutting down Jrue Holiday and E’Twaun Moore for the rest of the season.
Smith finds himself on waivers after playing just two games for New Orleans following a trade from the Bucks last month. The 33-year-old was on his third team this season, playing six games for Milwaukee and 12 for Washington.