Hornets point guard heading to the New Orleans Pelicans

Charlotte Hornets point guard Devonte’ Graham is reportedly on his way to New Orleans.

According to ESPN, Graham is part of a sign-and-trade that will send him to the Pelicans on a four-year, $47 million contract. Stadium’s Shams Charania reports that Charlotte will receive a future first-round pick in return.

On Sunday, they extended a qualifying offer to Graham, making him a restricted free agent.

The Hornets entered free agency with four free agents: Graham, Malik Monk, Cody Zeller and Bismack Biyombo.

This story is breaking and will be updated.