The New Orleans Pelicans ceded their 10th overall selection in the 2014 NBA draft after failing to jump into the draft's top 3 this evening. Cleveland, which at 1.7%, barely topped New Orleans' 1.1% odds of winning the lottery but still won the #1 overall pick for the third time in four years. You'll recall, of course, that the Cavaliers were one coin flip away from winning the #1 overall selection that turned into Anthony Davis.
This, for all intents and purposes, formally consummates the draft-day deal that sent Nerlens Noel to Philadelphia and Jrue Holiday to New Orleans a year ago. We won't be able to evaluate things fully certainly until we see who the pick turns into (or more generally, what sort of player is available at the 10th spot) and until we find out what kind of player Noel becomes.
But now the summer can begin in earnest; it's a rather bare offseason for unrestricted free agents as David has laid out over the last month plus, so for the time being, our attentions turn to the restricted. Perhaps importantly, Detroit lost its 2014 1st round selection to the Charlotte Bobcats.