Trey Murphy III has been a revelation for the Pelicans.
Murphy was selected by the Pelicans with the 17th pick in the 2021 NBA Draft out of the University of Virginia. The 6'8" wing was hailed as a knockdown shooter and elite perimeter defender out of college and he has delivered on his pre-draft prognostications and then some. He lead the Pelicans in minutes played in their play in/playoff run, and is an integral piece to the teams current and future success. Murphy turns 24 in June and is just scratching the surface of his potential NBA stardom.
The Pelicans signed Murphy to a four year, $14.7 million contract after selecting him in the 2021 draft, meaning the contract expires next summer allowing Murphy to explore free agency in the summer of 2025. I don't forsee that happening.
The Pelicans' sharpshooter is currently eligible for a long-term extension and it would be prudent for New Orleans to ink their young wing to a new deal before he reaches the open market. CJ McCollum, Brandon Ingram, and Zion Williamson are all on expensive contracts and Herb Jones locked down an extension in 2023, so the finances may be tricky to keep Murphy in New Orleans long-term.
Before any of that gets discussed though, New Orleans needs to figure out Murphy's value compared to players similar to him. Let's take a look at a couple of comparable contracts to what Trey Murphy will be offered.
Herb Jones - four years, $53.8 million
Max Strus - four years, $62.3 million
Donte DiVincenzo - four years, $46.8 million
Deni Avdija - four years, $55 million
Those four contracts were signed in either 2023 or 2024 and give a baseline to the number Murphy will be looking for in his next contract. New Orleans has their work cut out for them to make the numbers for Murphy work alongside their current core, but crazier cap gymnastics have been done (different sport, but the football team that shares a city with the Pelicans are known for their cap shenanigans).
With David Griffin promising change in New Orleans, Murphy may be boxed out of the franchise's long-term plans. I don't believe that's going to be the case.
In my opinion, the more likely scenario is that McCollum and/or Ingram are moved this summer and Murphy will find himself starting alongside Zion Williamson, Herb Jones, and two new Pelicans come October. Murphy proved his value in the 2024 play-in/playoffs, and each made bucket in the series against the Oklahoma City Thunder only raised his next potential payday.