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Report: Lance Stephenson has just $100,000 of Pelicans minimum contract guaranteed

Indiana Pacers v New Orleans Pelicans

NEW ORLEANS, LA - OCTOBER 30: Anthony Davis #23 of the New Orleans Pelicans looks to pass the ball around Lance Stephenson #1 of the Indiana Pacers at the New Orleans Arena on October 30, 2013 in New Orleans, Louisiana. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Chris Graythen/Getty Images)

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It’s not a good summer for guards whose production and reputations have declined after taking pay cuts.

Ty Lawson got an unguaranteed deal with the Kings after allowing his $13,213,482 salary to become fully unguaranteed and then being waived.

Lance Stephenson – who signed with the Pelicans after rejecting a five-year, $44 million contract two years ago – fared only barely better.

Adrian Wojnarowski of Yahoo Sports:

The Pelicans have 15 players, the regular-season roster limit, with guaranteed salaries. Chris Copeland, Robert Sacre and Shawn Dawson are also competing on unguaranteed deals.

Essentially, Stephenson is far from a lock to make the team – even with Tyreke Evans and Jrue Holiday both out to begin training camp. Stephenson is just 26 and two years removed from near-All-Star production, and New Orleans needs a playmaking guard.

But if Stephenson doesn’t impress clearly more than the 15 players with guaranteed deals, his contract terms make it easier to waive him.