What Trey Murphy III’s extension could mean for Brandon Ingram’s future

The New Orleans Pelicans came into this offseason with a lot to do. They revamped their staff, adding NBA veterans and promoting a WNBA legend to round out their administrative side of the business. They made some major roster moves, including trading for All-Star guard Dejounte Murray.

They also had plenty of work to do to take care of their in-house players. First, they signed Jose Alvarado to a bargain deal, extending him for an additional two years for just $9 million total, although the second year will be a player option. Then, on the final day of eligibility, the Pelicans reached an agreement with Trey Murphy III for four years, $112 million. Both of these deals were shrewd moves by Vice President David Griffin and the rest of New Orleans's staff.

But there's still one Pelican left whose future with the team is still up in the air. At the end of the season, Brandon Ingram will be headed for unrestricted free agency, unless New Orleans can extend him before June 30. They'll have the entirety of the league year to reach an agreement with Ingram's camp, but they're also working against the trade deadline. If the Pelicans don't plan on keeping him around, the wise move would be to trade him rather than lose him for nothing in free agency. Both Ingram and the New Orleans brass have been candid about their doubts that an extension will get done anytime soon, and the Trey Murphy III extension may have given a definitive answer on Brandon Ingram's future with the Pelicans.

Trey Murphy III's extension might mean the end of Brandon Ingram's time with the Pelicans

The full details of Trey Murphy III's extension have yet to be released. Spotrac estimates that he'll have cap hits of $25 million in 2025-26, $27 million in 2026-27, $29 million in 2027-28, and $31 million in the final year of his contract for an average of $28 million per year.

ESPN's Bobby Marks predicts that his deal will leave the Pelicans with a projected $31 million in space below the luxury tax. New Orleans currently has 10 players signed on for the 2025-26 NBA season: Murphy, Alvarado, Zion Williamson, CJ McCollum, Dejounte Murray, Herb Jones, Jordan Hawkins, Yves Missi, Antonio Reeves, and Karlo Matkovic. If Spotrac's correct with their $25 million estimation for Murphy's cap hit, that'll put New Orleans just $34 million under the first apron and $46 million under the daunted second apron, which would severely handicap the Pelicans' ability to make further roster moves.

It's been reported that Brandon Ingram and his camp are seeking a four-year, $200 million extension, with the max being four years, $207.8 million. Inking him to that deal would likely put the Pelicans above the second apron, and they'd still have to fill at least two other roster spots after that. Even if they filled out their roster before re-signing or extending him, it would essentially lock the Pelicans into whatever personnel they have at the time his new deal is finalized.

Something has to budge here. Either Ingram will have to lower his price point for an extension or the Pelicans will have to cut ties with him, whether that be via trade or simply letting him walk in free agency. Due to the new Collective Bargaining Agreement's strict second apron, New Orleans doesn't really have the option to renew his deal and decide to trade him later on, as their trade maneuverability will be severely diminished as soon as they cross the second apron threshold.

With Trey Murphy III now locked down for the next five years and making $28 million per season, it seems like the Pelicans have picked their wing of the future, lest they want to pay TMIII to be one of the most expensive bench players in NBA history. All signs point to this next season being the last for Brandon Ingram as a Pelican, and he probably won't finish out the year in New Orleans.