Most of the elite NBA free agents have already signed elsewhere or found a new home. However, we can't sleep on some of the notable players who are still unsigned.

According to multiple reports, the New Orleans Pelicans have reached out to free agent Jason Terry.

Terry is currently an unrestricted free agent after playing last season with the Houston Rockets. Now 37 years old, Terry still has a desire to play another season in the league. Terry only averaged seven points per game last season while shooting 42.2 percent from the field. Terry only started 18 games, but managed to play in 77 games overall last season.

Still, Terry is a good three point shooter, and that's what the Pelicans want. Terry made 39 percent of his perimeter shots last season, his highest since the 2006-07 season when he was a member of the Dallas Mavericks. Terry also played a huge role on the Mavericks, winning the 2011 NBA Finals against LeBron James and the Miami Heat.

Aside from three pointers and experience, Terry is also very good free throw shooter.

The issue here is going be size, defense and age. Terry obviously isn't in the prime of his career anymore, and he has played for four different teams over the last four seasons. Terry has shown he can adapt to multiple systems, but it's not a good sign when you've played for four teams in four years. Terry also hasn't displayed elite defense in his last two seasons, but with limited playing time, this probably won't be a huge issue.

The Pelicans ranked 19th in three point shots made last season. That's not terrible at all, but in today's NBA, the game is played from the outside more than the inside unlike the past. Last season Terry made 126 three pointers. Only one Pelicans player, Eric Gordon, had more than that last season, as he had 141.

If the Pelicans can't strike a deal with Terry, there are other shooting guard options in free agency.

J.R. Smith chose not to opt back in with the Cleveland Cavaliers (he must regret that now) for a guaranteed $6 million. Smith is a wildly inconsistent shooter who can go on a hot streak or break into a cold slump. He played a big role in the Cavaliers making it to the NBA Finals last year after the New York Knicks dealt him at the trade deadline.

Smith is eight years younger than Terry, and he can play a lot more minutes when needed for the Pelicans. Again, the issue here is consistency. Smith could be a good option for the Pelicans if they agree to the right terms. Smith is a former Sixth Man of the Year Award winner. Anthony Davis should be able make sure Smith doesn't shoot too much.

Then again, the Pelicans could always look outside the box. The greatest three point shooter in NBA history is presently a free agent.

Ray Allen took last season off to reflect on everything and spend time with his family. According to Sports Illustrated, Allen won't officially retire this offseason. After watching the NBA Finals last season, he admitted to missing the game. Allen, now 40, will play a pretty reduced role from what we've seen in the past. Missing an entire season will do that.

Allen can still be a great bench player for the Pelicans if he shows he still has the elite stroke.

Terry appears to be the frontrunner at the moment for the Pelicans, but Smith easily brings the stamina and age advantage. Allen hasn't played in a year, but you just can't count out the all-time three point shot-maker yet.

Follow Damon Salvadore on Twitter @DamonSalvadore1