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Sources: Solomon Hill to the Pelicans for four years, $48 million

The New Orleans Pelicans have reached a verbal agreement with free-agent forward Solomon Hill on a four-year deal valued at $48 million, according to league sources.

Sources told ESPN.com that Hill has committed to sign with the Pelicans on July 7, when a league-wide moratorium on signings and trades is lifted.

The value of the deal, sources said, can reach $50 million if Hill hits certain incentives.

Hill was a prime target for the Pelicans heading into free agency, sources said, with New Orleans eager to slot him in as its new two-way small forward.