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Pelicans agree to sign former Knicks guard Langston Galloway to 2-year contract

He will join fellow signee E'Twaun Moore to provide depth in New Orleans' backcourt.

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The New Orleans Pelicans continue to bolster their backcourt with the addition of former New York Knicks guard Langston Galloway in free agency. New Orleans will sign Galloway to a two-year contract worth between $5 and $6 million annually with a second-year player option, according to Marc Berman of the New York Post.

Galloway was a restricted free agent entering the summer, but the Knicks relinquished his qualifying offer in order to fit new signees Joakim Noah, Courtney Lee and Brandon Jennings under the salary cap. That allowed the Pelicans to sign him outright without having to structure a complicated deal to prevent the Knicks from matching.

Galloway was subject to the Arenas Rule provision, which prevented other teams from offering more than the value in the mid-level exception in the first year, but did allow massive balloon payments later on. The Nets signed Miami guard Tyler Johnson to a whopping $50 million offer sheet using the same provision and structure. But once the Knicks pulled the qualifying offer, it made it easier for Galloway to go to another team.

The former St. Joseph's guard and Louisiana native built on a strong finish to the 2014-15 season. He averaged nearly eight points per game in 25 minutes off the Knicks' bench while shooting 34 percent from three-point range and playing solid defense. He should compete with fellow new signee E'Twaun Moore for the guard spot vacated by Eric Gordon's departure to the Rockets.