Sources: Lance Stephenson signs with Pelicans

Free-agent guard Lance Stephenson has agreed to a contract with the New Orleans Pelicans, league sources told The Vertical.

Stephenson visited the Pelicans last week and finalized a contract agreement Friday, sources said.

Stephenson was traded by the Los Angeles Clippers in February, finishing the season with the Memphis Grizzlies, who declined his $9.5 million option. Several organizations had expressed interest in Stephenson in recent weeks before he signed with New Orleans.

The Pelicans are expected to be without guard Jrue Holiday for part of the season because of some serious health issues regarding his wife, Lauren.

Stephenson, 26, performed as one of the league’s better two-way players in his last season with the Indiana Pacers in 2013-14. He rejected the Pacers’ $44 million offer in the summer of 2014 for a guaranteed two-year, $18 million deal with the Charlotte Hornets.

After a disappointing season, the Hornets dealt Stephenson to the Clippers last offseason and had little impact with the franchise. When the Grizzlies acquired Stephenson from Los Angeles at the trade deadline in February, he played a significant role, averaging 14.2 points, 4.4 rebounds and 2.8 assists while shooting 47.4 percent from the field in 26 games.

The Grizzlies were swept in the first round of the playoffs by the San Antonio Spurs, with Stephenson averaging 13 points per game.

In six NBA seasons, Stephenson has averaged 8.8 points, 4.2 rebounds and three assists.

Stephenson was the 40th overall pick of the Pacers in the 2010 NBA draft.

More NBA coverage from The Vertical: