Pelicans Trade John Salmons for Norris Cole; Waive Toney Douglas

According to Marc Stein:

Norris Cole to New Orleans for John Salmons is another trade that beat the buzzer

— Marc Stein (@ESPNSteinLine) February 19, 2015

About half an hour prior to this, John Gambadaro tweeted:

Granger to Phoenix and 3 other players to make money work to Pelicans

— John Gambadoro (@Gambo987) February 19, 2015

Goran Dragic and Zoran Dragic to Miami for two first round picks and Danny Granger. Three other playes to NO

— John Gambadoro (@Gambo987) February 19, 2015

Stay tuned to see how exactly this deal pans out, but it sounds like Cole, who has a team option for next season, will be a Pelican for the remainder of this season.

Due to the deal, there is news Toney Douglas will no longer be a part of the team.

The New Orleans Pelicans have waived guard Toney Douglas, league sources tell RealGM.

— Shams Charania (@ShamsCharania) February 19, 2015

Update #1:

So, sources saying two different deals occured. #Pelicans acquire: Norris Cole, Shawne Williams, Ish Smith and Justin Hamilton. Salmons gone

— Scott Kushner (@ScottDKushner) February 19, 2015

There will also be some minor pieces floating around that #Pelicans will obviously be giving up. Trying to sort it out now...

— Scott Kushner (@ScottDKushner) February 19, 2015

Update #2:

Now it appears John Salmons was initially traded to the Phoenix Suns.

The Suns will also waive John Salmons

— John Gambadoro (@Gambo987) February 19, 2015

Will Salmons now join the Pelican's coaching staff?

Update #3

It also doesn't sound like former #LSU product Justin Hamilton will ever suit up for the #Pelicans either. Likely to be cut.

— Scott Kushner (@ScottDKushner) February 19, 2015

Update #4

@DSchex @thebirdwrites - @DarnellMayberry reporting Thunder cutting Ish Smith. I'm told by sources Pels are acquiring him.

— Scott Kushner (@ScottDKushner) February 19, 2015