The Pelicans have requested waivers on guard/forward Dalen Terry, the team announced on Friday (Twitter link via Will Guillory of The Athletic). New Orleans just acquired Terry (and two second-round picks) on Thursday in the trade that sent Jose Alvarado to New York.

The Pelicans waived Terry on Friday, Will Guillory of The Athletic reports. Terry, who was traded twice in the span of two days, will now hit the open market as a free agent. Across 204 career regular-season games, Terry holds averages of 3.3 points, 1.7 rebounds and 1.2 assists.

Chris Haynes: Pelicans are receiving Dalen Terry and two seconds, sources say.

Terry, a first-round pick in 2022, hasn't convinced the Bulls that he deserves more minutes. Rather than point fingers or demand a trade, he has stayed ready and is trying to prove people wrong.

Terry came over from the Knicks on Thursday via trade, but he's not yet joined his new team for action. His next chance to make his Pelicans debut comes Monday against the Kings. Given the uncertainty surrounding his role, Terry's absence doesn't seem to shake up the New Orleans rotation.

The Knicks acquired point guard Jose Alvarado from the New Orleans Pelicans for Dalen Terry, two second-round draft picks, and cash in a deal they got in just before the NBA’s 3 p.m. ET trade deadline on Thursday afternoon.

The Knicks finally made their first trade of the 2026 season, moving Guerschon Yabusele to the Bulls just before the deadline.

The Chicago Bulls traded Dalen Terry to the Knicks for Guerschon Yabusele, signaling a quiet rebuild and reshaping their roster.