By January 15, 2025
The Charlotte Hornets have traded backup center Nick Richards and a 2025 second-round pick (via Denver) to the Phoenix Suns in exchange for forward Josh Okogie and three second-round picks (2026 from Denver, and 2031 from both Denver and Phoenix).
Drafted 42nd overall in 2020, Richards steadily developed into a reliable backup center in his time with the Hornets. His performance, coupled with a team-friendly $5 million annual salary through 2026, gave him significant trade value. Hornets President of Basketball Operations Jeff Peterson decided to capitalize on that value now, rather than risk losing Richards in free agency in 2026. With young prospect Moussa Diabate ready to step into a larger role, moving Richards made sense for the rebuilding team.
This deal adds to the Hornets’ stockpile of second-round picks, bringing the total to eight since the 2024 offseason.
Trade Analysis
Josh Okogie
An undersized, tough-nosed forward, Okogie has stuck in the league for his physical and disruptive defense. He ranks in the 92nd percentile for blocks and 99th percentile in steals, also ranking in the 96th percentile in offensive rebounding. Offensively, Okigie has been a liability for most of his career, although he is shooting a career-best 38.1% from three this year, albeit in limited minutes.
It’s a concern that Okogie hasn’t managed to crack the Suns’ rotation considering their need for wing defense, but on the surface he looks like an interesting low-cost gamble to provide competition for Josh Green and Cody Martin. The team continues its need for capable defenders around its core of Miller, Ball, Bridges, and Williams.
If Okogie doesn’t work out, his non-guaranteed contract for 2026-27 provides flexibility for the team to move on without financial impact.
(Incoming) Second Round picks: ’26 Denver, ’31 Denver, ’31 Phoenix
The 2031 Denver and Phoenix picks might feel like ages from now, but they are among the most high-value future second-round picks available. Both teams are in win-now mode, already aging, and extremely asset-poor, leaving them with limited options to remain competitive by 2031. Even if Charlotte doesn’t use these picks to draft players, they will likely hold above-average trade value.
The Hornets are sending Nick Richards and a second-round pick to Phoenix in exchange for Josh Okogie and 3 second-round picks.#HiveMentality pic.twitter.com/PA0xRSqt4s
— Hornets On FanDuel Sports Network (@FDSN_Hornets) January 16, 2025
The 2026 Denver pick offers something the Hornets currently lack, as they will lose their own pick to San Antonio when the lottery-protected first-rounder they traded in the Kai Jones deal converts into a second-rounder after this year. Filling this gap is a nice move and allows the Hornets to keep a consistent conveyer belt of young talent coming through the door.
(Outgoing) Nick Richards
While Richards has filled in admirably for the often-injured Mark Williams, Diabate’s emergence and Williams’ return made him excess to requirements. Following a strong start to the season, Richards’ performance levels have dropped off recently; perhaps he sensed the incoming trade was inevitable. Coincidentally (or not), Richards’ best recent performance came in a 115-104 win against the Suns, where he posted 15 points, 12 rebounds, and three blocks in 25 minutes. Phoenix clearly came away impressed.
(Outgoing) – Second Round Pick: ’25 Denver
Charlotte’s outgoing pick is projected to fall between 50-57 in the upcoming draft, making it a lower-value selection. The Hornets already own both New Orleans’ and Philadelphia’s 2025 second-round picks, which are expected to be top 35-45 selections, making the third 2025 Denver pick a surplus.
Overall Grade – B+
Charlotte likely received fair market value for Richards, with offers of two second-round picks and an expiring contract likely available from other teams. However, Peterson’s ability to secure higher-value future picks while offloading a less useful 2025 selection deserves extra credit. The inclusion of Okogie, a potentially impactful defender with financial flexibility, is another savvy touch. Overall, this deal bolsters the Hornets’ long-term flexibility while preserving short-term competitiveness.
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