Trey Murphy III may have spent most of the offseason at the center of trade chatter, but the latest read on his situation points toward New Orleans keeping him around.
That matters because Murphy has been one of the Pelicans’ most valuable trade chips after a 26-win season, and his production last year only made him more attractive. The 26-year-old averaged 21 points per game for the second straight year in 2025, while continuing to show off the kind of 3-and-D game that makes front offices pay attention.
He hit nearly 38% of his threes on more than eight attempts per game, and at 6-foot-8 he also gave New Orleans the kind of defensive flexibility teams covet. He can guard multiple spots and bring real value on both ends.
Still, value and price are two different things. During a livestream with Bleacher Report earlier this week, The Stein Line's Jake Fischer said the Pelicans want to keep Murphy because there isn’t a market that matches what New Orleans is asking for. Stein also reported that the asking price has come down from four first-round picks to three.
"At this point in time, I am working with the belief that the Pelicans want to keep Trey Murphy," Fischer said. “This whole offseason chatter around him kind of got blown out of proportion by them letting other teams around the draft believe he was available, but there just isn’t really a market for him at that price point that the Pelicans are asking for."
That leaves a few teams needing to adjust their plans. The Golden State Warriors, Boston Celtics, and Detroit Pistons were all connected to Murphy, but if New Orleans is shutting the door, they’ll have to move on.
For Golden State, Murphy would have been a strong fallback if the LeBron James pursuit doesn’t land. He would fit as a high-level wing starter next to Steph Curry, but that option appears to be fading.
Boston, which just traded away Jaylen Brown, could have used Murphy as a replacement. But with Brad Stevens not willing to meet the Pelicans’ price, the Celtics are back to searching for another answer.
Detroit also makes sense on paper. Murphy would help a team that needs more reliable shooting, though the Pistons may have bigger business to settle first with Jalen Duren before making another major move.
For now, Murphy looks more likely to stay in New Orleans and help the Pelicans in 2026. He’s still an ascending player, but for contenders looking to add him, the asking price appears to have taken him off the board.
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