The most sought after NBA player this offseason might not even be an All-Star. Reports around the league have suggested many teams are expected to pursue New Orleans Pelicans’ multi-dimensional small forward Trey Murphy III. Detroit, Indiana, Golden State, Houston, and Oklahoma City are among the suitors already rumored to have interest in the soon-to-be 26-year-old wing.
Murphy The Third just came off a career season in the Big Easy, but the franchise sits in an odd place. They’re currently caught
between rebuilding and deciding if they have a core worthy of building around. Before we dive into that, let’s take a look at TM3’s stats in 2025-26.
- 21.5 points
- 5.7 rebounds
- 3.8 assists
- 1.5 steals
- 47% FG
- 37.9% 3PT
- 88.6% FT
- MIN 35.5
Current Situation
The Pelicans finished a bizarre season with a record of 26-56. The oft-injured face of the franchise, Zion Williamson, put up career lows in scoring and rebounding, while his playmaking also took a dip. Former All-Star Dejounte Murray missed all but the last 14 games of the season due to rehabbing a torn ACL, and head coach Willie Green was fired 12 games into the season.
They added two lottery-pick talents in point guard Jeremiah Fears, and center Derik Queen. The latter was drafted at No. 13 after NOP traded their 2026 unprotected first in this month’s loaded NBA Draft. That traded pick has become the 8th pick and is going to the Atlanta Hawks. The Pelicans also have the distinct pleasure of paying Jordan Poole $34 million next season. Ouch. It’s not all bad, however.
Fears and Queen both showed flashes of nice potential as 19-year-old rookies, and it was enough to earn them spots on the league’s All-Rookie Second Team. Still, between promising youngsters, continued frustration with Williamson, the uncertainty of Murray’s fit, and three desirable forwards in Murphy, Saddiq Bey, and Herb Jones, the team is a hodgepodge of good talent without an identity or direction.
Sitting at the top of this French Quarter quagmire is President of Basketball Operations Joe Dumars. Last year’s draft was his first stamp on the current roster, defined by his wild trade of that unprotected pick. Unless they can begin to shape a competitive squad out of their tenured talent, this is a team whose parts are more valuable than its sum.
With Murray, Murphy, Jones, and Williamson mostly in their mid-20’s, it would lead one to believe New Orleans should be transitioning toward winning. However, injuries, inconsistency, bad defense, and poor 3-point shooting plague the Pelicans. Kind of hits close to home, doesn’t it?
When it comes to trading Trey Murphy III, Dumars reportedly rebuffed teams through the trade deadline. As of last week, he claimed they are open to listening and not closing off anything, with a caveat that only two players were untouchable, though he didn’t name them. Reports allude to those players as Fears and Queen.
It makes complete sense for the Pelicans to hang on to Murphy. He just completed the first season of a 4-year, $112 million extension. At a $28 million average annual value for three more seasons, that affordability is both team-friendly and boosts his trade value. He’s in the sweet spot of being a part of their future or being dealt for a stockpile of assets.
The Trade
Given the high interest in TM3 around the league, Portland would have to come with a substantial offer. NBA reporter Marc Stein compared Murphy’s value to the same ballpark as what Orlando paid for sharpshooter Desmond Bane last summer. Four (4) UNPROTECTED first-round picks and matching salary of young talent. Looking at some of the rumored interested teams:
- Houston is loaded with talent and has two potential lottery-ticket draft picks: a swap next year with Brooklyn’s 2027 first, and Phoenix’s unprotected first next year as well. If they attach those to Jabari Smith Jr., the Rockets could wheel and deal.
- Golden State is desperate to get another scorer/shooter for Steph Curry’s Sunset Adventure Cruise. They could send out several unprotected firsts and swaps, which could be juicy once the team loses its stalwarts to retirement.
- Detroit has young wings like Ausar Thompson and Ron Holland II, and every one of their firsts through 2033. Those two would complement the defensively challenged, yet offensively endowed Fears and Queen.
The Blazers would likely need to start with Shaedon Sharpe, perhaps add Kris Murray for a close salary match, and then determine how many firsts they would be comfortable parting with. That’s just to get a seat at the table. Murphy is so highly coveted, a bidding war is sure to unfold.
Why the Blazers Do It
Trey Murphy III is an ideal small forward in today’s NBA. His measurables include being 6’9” (in shoes) with a seven-foot wingspan, and a 38” vertical leap coupled with great athletic explosion. Offensively, he’s an incredibly efficient shooter, dependable scorer, decent rebounder, and burgeoning playmaker. He sports a nice true shooting percentage of 61.3%, and that’s with 54% of his shots coming from beyond the arc. His defense is passable to good, and he’s adept at playing the passing lanes.
Putting up the numbers he does on a 22.7% usage rate is impressive. It makes you wonder if he’s capable of moving into the All-Star discussion with a star’s usage rate in the 25-35% range. In January and February (19 games), his usage rose to 27.3%, and he averaged 25.7 points, 4.8 assists, and 4.7 rebounds. The +4.2 jump in scoring over his season-average usage stands out. His playmaking rose a full assist, while his rebounding dipped a full board. His minutes and efficiency remained similar, as his overall production improved. That’s a green flag. Unfortunately, during this higher usage stretch, he went down with injuries (shoulder and ankle) before the All-Star break.
You would want to see Murphy level up for a whole season at that 27.3% usage rate to buy its permanency. Still, he has developed in the face of constant chaos from the front office and its reliance on Zion as its centerpiece. With Williamson’s red flags as a franchise player, and the organization encouraged by their inexperienced rookies, it kind of wastes Murphy’s talents as the team spins its wheels.
Similar to Avdija and Sharpe, Murphy needs to find a structured place that grants him the freedom to explore the extent of his talent. The Blazers allowed Sharpe a whopping 30.5% usage rate this season to put more responsibility on his shoulders. He was given a long leash to work in isolation and to get comfortable being a top offensive option.
- Sharpe’s 4-year usage: 19%, 22.4%, 25.1%, 30.5%.
- Murphy’s 4-year usage: 16.6%, 18.6%, 23.7%, 22.7%
With his excellent efficiency, I’d be curious to see Murphy get that opportunity for increased workload on the perimeter and attacking closeouts, especially playing next to Deni’s contrasting downhill attacking style.
Why the Blazers Don’t Do It
Murphy hasn’t been a beacon of health. What serious Blazers trade target can come without the injury warning, though? It’s perfectly on brand. His last three seasons he’s played 57, 53, and 66 games. His 2024-25 season was cut short due to shoulder surgery, and the problem lingered at times last season too, forcing him to miss games. The big jump in availability is encouraging, but he has to be more durable for the team that pays a king’s ransom to acquire him.
It’s that bidding war that might bump the Blazers out of contention against other trade suitors. They might already be behind in any potential discussions, as reports say they have their eyes and assets locked in on chasing Giannis Antetokounmpo.
Bottom Line
Unless a true Godfather offer comes in for Murphy, New Orleans should give it another year with him. Murray is a former All-Star point guard and only 29. If he gets back to form, that elevates the team. They expect growth from Fears and Queen too. Murphy is poised to keep being a high performer, and his trade value will remain off the charts, so long as he’s healthy. They can afford to let things bake another season, and be right here again next summer with teams still drooling over TM3 with two years remaining on his deal.
Aside from Giannis and Jaylen Brown, Trey Murphy III would be my personal choice as the next most desirable target for Portland to acquire. I’d be willing to part with anyone not named Avdija or Clingan (specifically Sharpe and Murray), the Blazers 2027 unprotected first, the most favorable of the two Milwaukee swaps in 2028 and 2030, and the best of Portland’s three 2029 first-round picks (the second-best is already reserved for Washington).
Too much? Not enough? What would you be willing to give up for Trey Murphy III?
