The New Orleans Pelicans locked up another piece of their team after reportedly signing forward Larry Nance Jr. to a two-year, $21.6 million extension, according to ESPN's Adrian Wojnarowski. The deal keeps Nance in New Orleans for the next three seasons.

Nance, 29, joined the Pelicans along with guard C.J. McCollum in a mid-season trade from the Portland Trail Blazers. Nance only played nine games in New Orleans, though, after undergoing arthroscopic right knee surgery in February and missing the rest of the 2021 season.

He averaged 7.3 points and 4.3 rebounds per game for the Pelicans this past season after averaging 6.9 points and 5.6 rebounds per game in 37 games for the Trail Blazers in 2021.

Nance is the third Pelicans player to sign an extension this offseason. Former 2019 No. 1 overall pick Zion Williamson signed a five-year, $193 million max contract extension this offseason and McCollum agreed to a two-year, $64 million extension in late September.

Nance, Williamson, McCollum and Brandon Ingram should all play key roles in whatever the Pelicans are trying to build this season. New Orleans is currently +4000 to win the NBA Finals and +400 to win the Southwest Division at BetMGM.