Norris Cole is one of the notable free agents left on the market and teams like the Los Angeles Lakers, NY Knicks, Philadelphia 76ers, Houston Rockets and Chicago Bulls could be potential landing spots for the point guard along with his return to the New Orleans Pelicans, but if the Pelicans sign Jason Terry to a contract, Cole could land elsewhere.
Cole is a restricted free agent this summer and that means the Pelicans have the ability to match offers for him on the market. According to Pro Basketball Talk, the Pelicans waived Toney Douglas in preparation for another roster move and that could be for Cole or for Terry. The New Orleans Times-Picayune reports that the Pelicans are interested in bringing back Cole, but that the team also could look at other options. Terry was reportedly close to a deal to come back to Houston, but now his return to the Rockets is not certain.
Mark Berman at Fox 26 in Houston reports that sources have said that Terry is considering an offer that he has from the Pelicans, as he thinks the Rockets offer is "insufficient." Berman reported a couple weeks ago that Terry was "close" to returning to the Rockets and that came after Marc Stein reported that the team was "more likely" to sign back Terry after the Ty Lawson trade. The deal with the Nuggets took away some depth for the Rockets at guard with Pablo Prigioni and Nick Johnson moving in the trade and Stein reported that Houston still wanted Terry for depth.
Pro Basketball Talk reports that Terry previously could have returned with his Bird exception for the Rockets to help with the cap but the team renounced that and now could use a cap exception to get it done. Terry may not want a minimum deal and if the Pelicans offer is solid, he could consider signing and that could throw Cole's future in New Orleans into question. Terry is older and a veteran and likely would not start, so New Orleans could bring back Cole as well, but the team could have a crowded back court with Jrue Holliday there as well.
According to Sam Amico at Fox Sports, the NY Knicks have shown some interest in Cole as an option to add some point guard depth. The team has Jose Calderon and Jerian Grant as well as Arron Afflalo and could look at adding one more player. Michael Scotto at Sheridan Hoops reported earlier in the offseason that Cole was a target for the Philadelphia 76ers and could be an option for the team to give a high offer that the Pelicans would not match. The Sixers do not have much experience at the position and if the Pelicans sign Terry, the Sixers could step up.
The Lakers are also considered a potential fit, as the team has reportedly been looking for a backup point guard or veteran option for the depth chart. Jordan Clarkson and D'Angelo Russell are young and adding someone like Cole or Bobby Brown, who is getting a workout, could add some veteran experience to the mix. If Terry ends up signing with the Pelicans, the Rockets could be an option for Cole to help add depth behind Ty Lawson and Patrick Beverley this season. Beverley dealt with injuries last year and Lawson has his issues off the court to deal with.