Frazier is a solid and underrated backup point guard who has shown some starter ability in the NBA, so it won't be surprising if the Wizards hand him their backup point guard job (that is, if Brandon Jennings isn't still around following this off-season). Frazier is a pass-first type who doesn't make many mistakes with the ball, so he's a solid insurance policy behind star and starter John Wall. With the Wizards not offering a new contract to former backup Trey Burke, it's clear now they're going in a different direction.

Frazier wasn't a cornerstone player for the Pelicans, but this deal is nonetheless somewhat intriguing because the team still needs to lock up some franchise guards to play with twin towers Anthony Davis and DeMarcus Cousins. With Frazier now out of the picture, Jrue Holiday is the only true point guard left with the team, and he is a pending unrestricted free agent. The second-rounder and the cash saved from Frazier's salary should help New Orleans shore things up there.

Frazier had some sneaky fantasy value for part of this past season as a starter for the injury-plagued Pelicans, but he probably isn't radar-worthy after this deal unless injury strikes Wall or Bradley Beal (which isn't out of the question, especially with Beal), and as mentioned, unless Brandon Jennings departs. That said, there's much still to happen this off-season, so it's unclear how things will shake out with the backcourt rotations in both New Orleans and Washington.