Okafor stands to earn 1.7 million next season with the option, according to ESPN's Bobby Marks. Only $54,000 of that money is currently guaranteed, however, with the rest only assured if Okafor is not waived before Jan. 7, 2020.
The former third overall pick averaged 8.2 points and 4.7 rebounds in 59 games last season with New Orleans, but fared much better after replacing Anthony Davis in the starting lineup. In 24 games as a starter, Okafor scored 13.9 points and recorded 7.4 rebounds while playing 25.6 minutes per game.
After a brief stint with the Brooklyn Nets in 2017-18 following a midseason trade from the Philadelphia 76ers, Okafor signed a partially guaranteed two-year deal with the Pelicans. The 23-year-old has been attempting to revive his career after knee issues limited him to just 131 games over his first three seasons.