LeBron James. Image via: Robert Gauthier/Los Angeles Times via Getty Trey Murphy III trade rumors are still simmering around the New Orleans Pelicans, even though a steep asking price has kept a deal from closing. The 26-year-old forward has been floated to contenders throughout the offseason, but most of that business is stuck behind one bigger question: where LeBron James lands in free agency.Once James makes his decision, according to John Hollinger of The Athletic, the market for Murphy is expected to heat back up. New Orleans has already lowered its ask from four first-round picks to three, leaving several teams, including Boston, still circling.FieldDetailCategoryStar forwardPlayerTrey Murphy IIICurrent TeamNew Orleans PelicansRumored TeamBoston CelticsContract Status$112 million (4 year)Salary Cap Hit$27,000,000Trade LikelihoodRumors persist, though lessenedLatest Insider UpdateHollinger (The Athletic) says chatter could resurface once LeBron picks a teamPotential ReturnThree first-round picks (lowered from an initial four)
Why Trey Murphy III’s situation has put the Pelicans under pressure
Trey Murphy III. Image via: Stephen Lew-Imagn Images
Murphy, 26, has become New Orleans’ most reliable scorer, leading the team in points per game during an otherwise forgettable 2025-26 season. Across 66 games he averaged 21.5 points, 5.7 rebounds and 3.8 assists on a 47.0/37.9/88.6 shooting split, numbers that have kept him on contenders’ radars as a 6-foot-8 forward with a 7-foot wingspan who can score and defend multiple positions.New Orleans finished 26-56 and missed the playoffs for a second straight year, landing the 11th seed in the West. The Pelicans have made almost no other offseason moves beyond re-signing DeAndre Jordan and letting Kevon Looney leave, which has only sharpened the focus on what happens with Murphy next.The Athletic’s John Hollinger described the situation: “Perhaps a late-summer deal emerges. The Pels still have their exception money, an open roster spot and $8 million breathing room below the tax line.”Hollinger continued, “Chatter about a Trey Murphy trade, while lessened, hasn’t vanished and is one of many potential pieces of league business that could resurface once LeBron James’ next destination becomes clear.”“At this point, however, I would be hard-pressed to name a worse-performing team in recent history that brought back the exact same roster from a year earlier,” he added.Contract: Trey Murphy III is under a four-year, $112,000,000 contract with the New Orleans Pelicans.2025-26 stats: 21.5 PPG, 5.7 RPG, 3.8 APG, 47.0/37.9/88.6 FG/3PT/FT splits (66 games).Current status: Subject of ongoing trade rumors, no deal finalized.
Celtics trade idea: solving Boston’s wing scoring gap
One idea gaining traction, per Hollinger, centers on Boston using extra draft capital to meet the Pelicans’ price. After missing out on Giannis Antetokounmpo, the Celtics flipped Jaylen Brown to the Philadelphia 76ers for Paul George and a package of draft picks, leaving Boston with the assets to make a run at Murphy.For New Orleans, the appeal is straightforward. The Pelicans are two years removed from the playoffs and have reportedly set an ask similar in shape to the four first-round picks Memphis got for Desmond Bane last offseason, before lowering it to three. Landing three future firsts from Boston would let New Orleans keep building around Zion Williamson, Derik Queen, Dejounte Murray and Herb Jones without needing this specific piece.Boston’s motivation is just as clear. Trading Brown left the roster thinner on wing scoring, and Murphy’s shooting and defense would slot in as an immediate two-way answer while the Celtics still have the picks to get a deal done.
Hypothetical trade structure
New Orleans Pelicans receive: Three future first-round picks (exact years not specified)Boston Celtics receive: Trey Murphy IIITrey Murphy III’s profiles and 2025-26 performance snapshotPlayerAgePrior-season teamPPG/RPG/APGPER/+/-Contract statusNotesTrey Murphy III26New Orleans Pelicans21.5/5.7/3.8Not specified in briefNot specified in briefLed Pelicans in scoring; 6-foot-8 forward with 7-foot wingspan; shot 47.0/37.9/88.6
What Boston gains from this move
Murphy gives the Celtics a wing who can both create his own shot and hold up defensively, exactly the kind of two-way scorer they gave up when Brown left for Philadelphia. Slotting him next to the returning core gives Boston another shot creator heading into the season.
What New Orleans gets in return
Three future first-round picks would give the Pelicans real flexibility as they continue building around Williamson, Queen, Murray and Jones. It mirrors the kind of return Memphis got for Desmond Bane, without requiring a similar four-pick price tag.The brief does not specify what New Orleans would do with the picks beyond continuing the rebuild, so any further roster plan stays speculative.My assessment of the rumor gives slight edge to Boston. The Celtics fill their biggest post-Brown hole with a proven scorer while giving up future assets rather than immediate roster help, and Murphy at 26 fits Boston’s win-now timeline better than New Orleans’ picks fit a Pelicans team still searching for direction.