The New Orleans Pelicans signed Micah Peavy to a four-year, $8.7 million contract.

The first two years of the contract are guaranteed, with a trigger date in the third year, and a team option for the fourth year. 

The Pelicans drafted Peavy with the No. 40 pick in the draft.

Peavy averaged 17.2 points, 5.8 rebounds, and 3.6 assists last season for Georgetown.