The New Orleans Hornets have agreed to send their first-round draft pick, the 27th overall, to the Portland Trail Blazers in exchange for cash.

The deal is expected to be announced Wednesday afternoon, according to a person who works in the NBA and is familiar with the transaction. The person spoke on condition of anonymity because the deal hadn’t been announced.

The Trail Blazers already have the 13th overall selection.

The deal would give the Hornets additional resources to sign free agents in an effort the improve a team that was one victory short of advancing to the Western Conference finals.