Stephenson agreed to a deal with the Pelicans on Friday, Shams Charania of The Vertical reports.

Stephenson is coming off a stretch with the Grizzlies where he averaged 14.2 points, 4.4 rebounds and 2.2 assists over 26.6 minutes per game, but had little luck on the free agent market this offseason after Memphis declined his team option. The Pelicans are currently fairly crowded on the wing, so unless injuries impact New Orleans, which would be nothing new for this team, Lance Stephenson's impact will likely be limited in 2016-17.