Free agent point guard Jrue Holiday has reached an agreement on a five-year, $126 million deal to stay with the New Orleans Pelicans, according to ESPN's Adrian Wojnarowski‏. News of a deal between the two parties was first reported by Marc Stein, who adds that the Pelicans and Holiday have a strong bond after overcoming the point guard's family health crisis involving his wife.

Holiday, 27, spent the last four seasons in New Orleans after being acquired from the Philadelphia 76ers on draft night in 2013. He's averaged 15.5 points and 6.9 assists as the team's starting floor general during his tenure.

The Pelicans have missed the playoffs the past two seasons, but Holiday should be an integral part of the team moving forward, as it could benefit from having a point guard of his caliber playing alongside perennial All-Star big men, Anthony Davis and DeMarcus Cousins.