One of the best seasons in franchise history ended with the New Orleans Pelicans exiting the NBA playoffs at a familiar spot.

They won 49 games—the most under the Pelicans nickname—and secured the No. 8 seed in the Western Conference. For the seventh time in nine postseasons, however, the franchise dropped its first-round series after getting swept by the Oklahoma City Thunder.

Now, the big question: Will the Pels basically just run it back?

The upcoming offseason could be straightforward for the Pelicans, whose financial outlook is manageable yet delicate. We'll cover the salary-cap questions, along with a preview of free agency for New Orleans.

Salary Cap

Zion Williamson, Brandon Ingram and CJ McCollum will account for about $106 million in combined salaries next season.

After them, the Pels' ledger is quite reasonable.

New Orleans has nine players under contract with Malcolm Hill on a two-way deal. Add in team options for Jose Alvarado and Jeremiah Robinson-Early, and the total number is right around $150 million.

That leaves the Pelicans nearly $22 million below the luxury tax, which is projected for $172 million. As a result, they could be able to utilize the full $12.9 million non-taxpayer mid-level exception (NTMLE) in addition to the $4.7 million bi-annual exception (BAE).

The complication, however, is re-signing Jonas Valanciunas would cut into the NTMLE. And that, my friends, is called a segue.

Top Contract Decisions

New Orleans has three impending free agents: Jonas Valanciunas, Cody Zeller and Naji Marshall.

Zeller is a deep reserve, so he'll either be inexpensive or quickly supplanted. Marshall has value in his three-and-D role and is worth keeping, but he's not exactly irreplaceable, either.

Valanciunas, though, is an interesting case.

He can be vulnerable on defense but is a solid offensive player who provides a bit of spacing and is content to, as CJ McCollum said, do the dirty work. General manager David Griffin showered praise on Valanciunas at the trade deadline, so it's easy to see JV sticking around.

Valanciunas' return would probably come at the cost of adding a notable free agent, barring a larger move.

Which...

Will the Pelicans actually need to choose between Zion Williamson and Brandon Ingram? The Ringer's Howard Beck spoke to an NBA executive who believes it will happen this summer. If it does, New Orleans' whole offseason gets blown up in a fascinating way.

Free Agents to Pursue

The dream addition would be Malik Monk, a potential dynamic bench-leading guard. He averaged career-high marks of 15.4 points and 5.1 assists while shooting 35.0 percent from three this season in Sacramento.

In the frontcourt, Kelly Olynyk would be a terrific floor-spacer to help prevent defenses from collapsing on Williamson.

However, if Valanciunas is back, the Pelicans might need to take a thriftier approach in free agency.

Tyus Jones may be out of New Orleans' range, but he'd immediately command the second unit. The challenge would be convincing Jones to return to a reserve role after starting for the Washington Wizards this year.

Cory Joseph would be a budget pick for the backcourt, while Jalen Smith fits a similar mold as a center who can shoot.