UPDATE:
According to a report from Shams Charania, Josh Smith has been cleared, and the Pelicans are set to sign him on Saturday.
Sources: Veteran forward Josh Smith has received letter of clearance and is signing his contract with the Pelicans today.
— Shams Charania (@ShamsCharania) October 28, 2017
Two months ago, after the New Orleans Pelicans lost swingman Solomon Hill to a torn hamstring, there were reports that they were working out veteran forward Josh Smith as a potential replacement.
As it turns out, the Pelicans must have liked what they saw. According to a report from Shams Charania of The Vertical, the Pelicans are planning to sign Smith under the injury hardship exception.
Free agent forward Josh Smith plans to sign with New Orleans under an injury hardship exception, league sources tell The Vertical.
— Shams Charania (@ShamsCharania) October 25, 2017
The Pelicans are allowed the roster exception because the Josh Smith contract is non-guaranteed. The Jameer Nelson contract was guaranteed.
— Bobby Marks (@BobbyMarks42) October 25, 2017
This is how the injury hardship exception works. Via ESPN:
To acquire a hardship exception, which allows a team to exceed the 15-man maximum roster, four players must miss at least three consecutive games and be out a minimum of an additional two weeks. An independent league physician has to grant the waiver based on the estimated timetables of all the players.
Smith, now 31, has not played in the NBA since the 2015-16 season, when he spent time with both the Clippers and HHouston Rockets. Most recently, Smith has been playing with the Israeli team Maccabi Haifa.
As of now it's unclear how much Smith will play, or how long he'll be with the team. However, even at this point in his career, Smith is one of the most talented free agents available. For a cheap, low-risk deal, it's worth seeing if Smith can recapture some of the form from his prime with the Hawks.