New Orleans has already exercised its player option on Zion’s rookie deal. He’s guaranteed to stay with the Pelicans through 2022-23, regardless of whether or not he signs his extension. But in 2023-24, the best the organization can do is extend him a $17.5 million qualifying offer. Williamson can decline it if he so chooses and become a restricted free agent in 2023 and an unrestricted free agent in 2024.