4 Moves the Pelicans must make after the Dejounte Murray trade

3. Extend Trey Murphy III

Murphy is entering the final year of his rookie contract and is extension-eligible. The 2021 first-round draft pick continues to improve and has blossomed into an elite shooter. He wants to stay in New Orleans, and the Pelicans view him as a crucial piece of their future, but extending him won’t be cheap.

Murphy will likely get $25-plus million per season in his extension. The 24-year-old is still years away from his peak and already playing a crucial role on a playoff team. Do not be surprised to see his agent ask for more than Devin Vassell’s five-year $135 million contract with the Spurs. Getting it may be another story, but that seems like a logical starting place.

Murphy becomes a restricted free agent in the summer of 2025 if they do not reach an extension, but the Pelicans cannot let him get there. The cap will rise significantly as the NBA’s new television deal kicks in. More teams will have room, and multiple teams will offer Murphy massive money to be their starter on the wing.

The New Orleans Pelicans must work something out before the start of the regular season. Giving him $25 million per season over the next five years won’t look bad as the cap rises. The Pelicans must fill a massive hole too.