The Charlotte Hornets have made a roster move ahead of the new year, waiving forward Drew Peterson from his two-way contract. While the Hornets’ standard 15-man roster remains untouched, this move clears one of the team’s three two-way slots - a small but potentially meaningful bit of flexibility as the season grinds forward.
Peterson, 26, originally went undrafted out of USC in 2023 and has spent most of his young NBA career bouncing between the league and the G League. He signed a two-way deal with Boston after the draft and made his way to Charlotte this past summer in hopes of carving out a role. In total, he’s appeared in 34 NBA games across three seasons with the Celtics and Hornets, averaging 2.1 points and 1.5 rebounds in just 8.0 minutes per game.
While his time with the Hornets’ main roster was limited - just six brief appearances off the bench this fall - Peterson saw significantly more action with the Greensboro Swarm, Charlotte’s G League affiliate. In nine games there, he logged 32.1 minutes a night and posted solid all-around numbers: 14.9 points, 7.7 rebounds, 4.4 assists, and 1.9 steals per game. At 6-foot-8, Peterson showed the kind of versatility that teams often look for in developmental wings.
That said, his shooting efficiency left something to be desired. He hit just 42.5% from the field and 30.0% from beyond the arc - numbers that suggest he’s still working to find consistency at the pro level. For a player trying to stick in the league, especially in a two-way slot where shooting and defensive reliability are often key, those percentages can be tough to overcome.
Timing-wise, the Hornets made the move before the league-wide salary guarantee date of January 7, meaning Peterson will only be paid a prorated portion of his two-way salary. Charlotte now has an open two-way spot to go along with guards KJ Simpson and Antonio Reeves, and with the deadline to sign players to two-way deals stretching all the way to March 4, the Hornets have some breathing room to evaluate their options.
Whether they look to bring in another developmental prospect or stash a veteran for depth, the flexibility could come in handy - especially for a team still figuring out its long-term core. For Peterson, it’s another bump in the road, but not the end of the line. He’s shown enough flashes in the G League to warrant another look, whether that’s with another NBA team or abroad.
In the meantime, Charlotte has a chance to reset that two-way slot and potentially add a piece who can contribute down the stretch or develop into something more.