Report: Pelicans have discussed offering DeMarcus Cousins less than max over two to three years

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Last month, Anthony Davis said he heard DeMarcus Cousins planned to re-sign with the Pelicans. Cousins was out a torn Achilles, and New Orleans was rolling with Davis playing more center. But New Orleans’ ceiling looked higher with Cousins, and Davis made clear he wanted to keep Cousins – in itself a big deal. More important than keeping Cousins is keeping Davis, which requires keeping Davis happy.

Then, the Pelicans swept the Trail Blazers, becoming the lowest seed to sweep a first-round series.

Is everyone still sure Cousins warrants a max contract, which projects to be worth about $176 million over five years?

Zach Lowe of ESPN:

The Pelicans have broached internally the idea of offering Cousins a two- or three-year deal at less than the max, per sources familiar with the discussions. I would not expect that to go over well with Cousins’ camp. But the Pelicans have the dual leverage of winning without Cousins and a tepid market for him.

Only a half-dozen or so teams have max-level space this season, and most won’t pursue Cousins at that level, sources say.

I wouldn’t be surprised if the Pelicans leaked this to test the waters. Word will get back to Cousins, and they can gauge how strenuously he objects. If they want, they can deny ever considering this and try to avoid offending Cousins.

But New Orleans has leverage.

It will be a tight market. Many of the teams with significant cap space are young and rebuilding, and they won’t want Cousins’ attitude. Even teams ready to win might not bring him into the locker room. Returning from a torn Achilles – hard for any player – will be especially difficult for the 6-foot-11, 270-pound Cousins.

That said, Cousins has leverage on the Pelicans, too. He’s extremely talented, and players that talented are hard to come by. New Orleans would still essentially be capped out if he walked, left with only the mid-level exception to replace him. Cousins and Davis play well together, and Davis – who can become an unrestricted free agent in 2020 – wants Cousins around.

Confronted with a similar situation with Jrue Holiday last summer – capped out and no mechanism to adequately replace him – the Pelicans spent big. But Holiday wasn’t hurt and didn’t have any fit concerns with Davis.

For New Orleans, it’s clearly worth securing the 27-year-old Cousins for the next couple years. The upside is too high. But, especially given the injury, guaranteeing him money into his 30s is undesirable.

On the flip side, Cousins should want long-term security. This might be his last chance to get it.

So, maybe both the Pelicans and Cousins can meet in the middle. But finding that point is never simple.