The New Orleans Pelicans are in a freefall. At 5-22, even after a rare road win over the Bulls, this season has gone off the rails in a way few anticipated.
No one pegged them as title contenders, but this level of dysfunction? That’s another story.
And with their 2026 first-round pick already shipped off to Atlanta in a draft night deal that’s aged poorly, the Pelicans don’t even have the comfort of a lottery silver lining.
That context makes New Orleans one of the more intriguing teams to watch as the trade deadline approaches. With the playoffs looking like a pipe dream, the Pelicans are widely expected to be sellers-and one name that keeps coming up in league circles is Trey Murphy III.
According to recent reporting, the Golden State Warriors have had their eye on Murphy for a while now. The sharpshooting wing fits the Warriors’ system like a glove-length, athleticism, and a smooth stroke from deep.
But prying him away from New Orleans won’t come cheap. The name floated in return?
Jonathan Kuminga.
Here’s where it gets complicated. Kuminga, once viewed as a rising two-way force, has seen his stock dip over the past six weeks.
After a promising start to the season where he flashed the kind of upside Golden State has been waiting to see, he’s once again fallen into an inconsistent rhythm-something that’s plagued much of his young career. Multiple DNP-CDs in recent weeks haven’t helped his case, either.
That inconsistency is reportedly giving the Pelicans pause. While there’s interest, the internal evaluation of Kuminga’s value seems to be all over the map.
And this time of year? Smokescreens are everywhere.
Front offices are playing chess, not checkers, and it’s hard to know what’s real and what’s posturing.
Kuminga’s name has been in trade rumors since the offseason, and while he ultimately stayed in the Bay Area on a short-term deal, it always felt like a temporary truce rather than a long-term commitment. If the Warriors are serious about making a move for Murphy, Kuminga is likely their best chip. The question is whether New Orleans sees him as a piece worth building with-or just another young player who hasn’t quite put it together.
For the Pelicans, the decision goes beyond just talent evaluation. With no control over their own pick, there’s little incentive to tank. That means any move they make needs to bring back real value-players who can grow with their core or at least offer immediate impact.
As the deadline draws closer, expect the noise around both teams to pick up. The Warriors are trying to retool around their aging core, and the Pelicans are searching for direction in a season that’s quickly slipping away.
Whether these two teams can find common ground remains to be seen-but the framework is there. And in a league where momentum can shift overnight, don’t be surprised if this storyline heats up fast.