The Hornets have picked up the option for the 2011-12 season on the contract of newly acquired guard Jerryd Bayless.

New Orleans acquired Bayless from Portland on Saturday night in a trade that sent a future first-round draft pick to the Blazers.

Hornets forward David West has advised his agent not to enter talks with the team about a contract extension until after the season.

West, who was drafted by New Orleans with the 18th pick back in 2003, wants to take his time and make a smart business decision.

"I'm looking to go in and make the best decision in terms of my future," West said. "I plan on just playing this year and doing all I can to help this team improve and have a successful year."

The Hornets waived point guard Curtis Jerrells on Sunday.

New Orleans acquired Jerrells in a trade with San Antonio last week.

Because of his release, the Hornets won't have to send a future second-round pick to the Spurs.

The move comes after the team acquired Jerryd Bayless from the Trail Blazers.

The Hornets now have the league-maximum of 15 players on their roster.

Chris Paul wore a brace on his surgically-repaired left knee during practice on Sunday.

New Orleans coach Monty Williams said Paul is getting used to the brace he'll probably wear throughout the regular season.

"We're just trying to stay on top of anything that could be nagging," Williams said. "It's such a long season. When a guy is coming off a surgery, you want to be as cautious as you can to keep him from having any setbacks."

Paul missed 37 games last season after requiring arthroscopic surgery to repair a meniscus tear in his left knee.

NBA commissioner David Stern has mentioned contraction as a possibility as the league enters economic uncertainty.

Stern didn't single out any franchises, but a Celtics team source told the Boston Globe that small-market cities like Charlotte, Memphis and New Orleans may be in danger of losing their teams.

The Portland Trail Blazers have acquired a conditional, future first round draft pick from the New Orleans Hornets in exchange for guard Jerryd Bayless, it was announced on Saturday by General Manager Rich Cho.

?On behalf of the Trail Blazers organization, I want to thank Jerryd Bayless for his service to the team and wish him all the best for the future,? said Rich Cho.

Acquired by the Trail Blazers in a draft day trade, Bayless was originally selected by Indiana with the 11th overall pick in the 2008 NBA Draft. The Arizona product and third-year pro has career averages of 6.8 points, 1.4 rebounds and 2.0 assists in 127 games (11 starts).

The New Orleans Hornets have waived reserve guard D.J. Strawberry.

Strawberry, who is 6-foot-5, played in four preseason games for the Hornets.

The Hornets have waived guard point guard Mustafa Shakur and center Darryl Watkins.

Shakur and Watkins were both playing under non-guaranteed contracts.

New Orleans acquired Curtis Jerrells from San Antonio on Monday.

The Hornets have acquired guard Curtis Jerrells from the Spurs in exchange for a second-round draft pick.

Jerrells went undrafted in 2009 and spent much of last season with the Austin Toros of the NBA Development League.

Hornets coach Monty Williams wants to prevent point guard Chris Paul from burning out.

Williams wants to avoid Paul from averaging more than 35 minutes per game.

"He has bought in and is a natural leader, but I will have to monitor his minutes to not overwork him," Williams said.

Paul has never averaged fewer than 36.0 minutes per game, including 38.0 per game during the 2009-10 season.