The market for Trey Murphy III appears to be gaining momentum after the New Orleans Pelicans reportedly lowered their asking price for the versatile forward.
According to Michael Scotto of HoopsHype, New Orleans has reduced its trade demand from the equivalent of four first-round picks to three first-round picks in recent discussions. The adjustment comes as several rival executives continue to debate Murphy’s value, with some believing recent trades around the league have reset the market for high-end wings.
Murphy has emerged as one of the NBA’s most coveted trade targets following a breakout 2025-26 campaign. The 25-year-old averaged 21.5 points, 5.7 rebounds and 3.8 assists across 66 starts while shooting 47.0% from the field, 37.9% from three on 8.6 attempts per game and 88.6% from the free-throw line. His combination of size, perimeter shooting and defensive versatility makes him an attractive fit for both contenders and rising playoff teams.
Contract value is another major reason for the widespread interest. Murphy is under team control for three more seasons after signing a long-term extension, giving any acquiring club a proven starting-caliber wing rather than a short-term rental.
Scotto reported that the Boston Celtics, Detroit Pistons, Golden State Warriors, Los Angeles Clippers and Atlanta Hawks are currently involved in the Murphy market to varying degrees. Boston’s position strengthened after acquiring additional draft capital in the Jaylen Brown trade, assets New Orleans has reportedly sought during negotiations.
Detroit may also become a more serious bidder. The Pistons finished with the NBA’s best Eastern Conference record at 60-22 last season before falling to Cleveland in seven games during the conference semifinals. Scotto noted that Detroit previously viewed New Orleans’ asking price as too steep, but the reduction could renew discussions following Tobias Harris’ departure in free agency.
The Clippers are another team positioned to make an aggressive offer. After trading Kawhi Leonard, Los Angeles possesses additional draft assets and could target Murphy as a long-term piece alongside its younger core. Atlanta has continued monitoring Murphy while maintaining a stockpile of future first-round selections and movable contracts.
Golden State’s pursuit appears less certain. Scotto noted the Warriors’ level of interest could depend on the outcome of their reported pursuit of LeBron James. Meanwhile, Sam Amick of The Athletic recently said on KNBR that Golden State does not appear especially confident about landing Murphy, adding that the Brooklyn Nets and Clippers have been mentioned as teams near the front of the race.
League executives remain divided on Murphy’s ultimate price. Some believe the recent returns for Brown and Leonard suggest two first-round picks should be the ceiling for Murphy. Others argue his age, production and team-friendly contract justify New Orleans seeking a third first-round equivalent.
