The Spurs are being asked to make a call on De’Aaron Fox, and it’s a big one. In a trade proposal from Bleacher Report’s Grant Hughes, San Antonio would move Fox to the New Orleans Pelicans and bring back Trey Murphy III and Dejounte Murray in a deal built around fit, flexibility, and a pile of draft assets.
Under the proposal, the Spurs would land Murphy and Murray. The Pelicans would get Fox, Luke Kornet, the 2027 Atlanta Hawks first-round pick, a 2028 Boston Celtics first-round pick swap, a 2030 San Antonio Spurs first-round pick, a 2031 Sacramento Kings first-round pick swap, a 2027 San Antonio Spurs second-round pick, plus the Pelicans’ own 2028 and 2029 second-round picks back.
It would be a sharp pivot for San Antonio after publicly showing confidence in Fox. But the logic behind the idea is simple: the Spurs now have Stephon Castle and Dylan Harper alongside Victor Wembanyama, and committing nearly $50 million to another ball-dominant guard could crowd the picture.
Fox averaged 18.6 points, 3.8 rebounds, and 6.2 assists last season while shooting 48.6% from the field and 32.2% from three. His extension begins next season at approximately $49.4 million, and Hughes suggested that moving him could open the door for Castle and Harper to grow without another high-usage guard taking up so much of the offense.
Murphy is the piece that makes the deal pop for San Antonio. The 26-year-old put up 21.5 points, 5.7 rebounds, and 3.8 assists last season while shooting 47% from the field and 37% from deep. That blend of size, shooting, and off-ball scoring is the kind of profile that looks tailor-made next to Wembanyama, Castle, and Harper.
His contract is workable too. Murphy is due $27 million next season, then $28 million in 2027-28 and $31 million in 2028-29 as part of a four-year, $112 million deal.
Getting him out of New Orleans would not be easy. The Pelicans have been hesitant to include Murphy in trade talks and have reportedly turned away discussions centered on three first-round picks. That goes a long way toward explaining why Hughes’ package is so loaded with draft compensation.
Murray would also be headed back to the franchise where his NBA career started. He averaged 16.7 points, 5.4 rebounds, and 6.4 assists last season while shooting 48.4% from the field and 30.6% from three.
His stock has dipped since arriving in New Orleans after his Achilles injury, and he is viewed as a negative asset. He is set to make $32.7 million next season and has a $30.7 million player option for 2027-28.
For San Antonio, though, Murray wouldn’t need to carry the offense. He could slide in as a third guard behind Castle and Harper, giving the Spurs playmaking, rebounding, and defense without demanding the ball.
New Orleans would be looking at this very differently. Fox would become the veteran centerpiece and give the Pelicans more creation at point guard than Murray can offer. The contract is steep, but if the goal is to stay in the fight rather than reset, Fox brings All-Star-level upside.
The Pelicans would also add Kornet, who averaged 6.5 points, 4.6 rebounds, and 1.9 assists while shooting 64.3% from the field last season. He is owed $10.4 million next season on a four-year, $47.7 million contract and could give them help with size, rebounding, and protection.
The biggest swing in the deal is the draft haul. San Antonio would give up multiple first-rounders without completely stripping its own future, including only one outright Spurs pick in the proposal. The Atlanta pick and the Celtics and Kings swaps would also put New Orleans in position to benefit from other teams’ futures.
Even so, Hughes’ framework may still not be enough if Murphy’s price truly sits at three first-round picks on its own. Taking on Fox’s contract while moving Murray would likely push the Pelicans to ask for even more, and the Spurs have enough draft capital to make the conversation real.
It’s still just a hypothetical, but it puts the Spurs in a fascinating spot. The question isn’t only whether Fox is worth keeping. It’s whether turning him into Murphy, Murray, and a deeper draft package would give Wembanyama a cleaner path toward the kind of roster San Antonio wants to build.
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