The Oklahoma City Thunder look like the NBA’s next long-term power, but the San Antonio Spurs are positioned to complicate that trajectory.
San Antonio has assembled the foundation of a contender. Victor Wembanyama is tracking toward best-player-in-the-league territory. Dylan Harper and Stephon Castle give the Spurs an unusually advanced young backcourt. More importantly, San Antonio has surplus assets and organizational patience—two prerequisites for striking decisively in a buyer’s market.
That combination raises an obvious question: could the Spurs target Trey Murphy III from the New Orleans Pelicans?
San Antonio Spurs Land Trey Murphy III in NBA Trade Proposal
New Orleans Pelicans Receive:
San Antonio Spurs receive:
Why the New Orleans Pelicans Do the Deal
Jeremy Sochan fits the definition of a reclamation project. His role has diminished significantly this season, with his minutes nearly halved from a year ago. The offensive limitations remain real, but at his best, Sochan has flashed the profile of an elite multi-positional defender—precisely the type of gamble a rebuilding team can afford to take.
That said, this deal is not about Sochan. It is about draft capital.
Some will argue Murphy is worth more than one unprotected first and one lightly protected pick. In a different market, that may be true. But this is not a seller’s market. Trae Young recently failed to return even a single first-rounder, and unless Giannis Antetokounmpo unexpectedly becomes available, it is difficult to envision any non-superstar generating a significantly larger haul at this deadline.
Murphy’s skill set is portable, valuable, and coveted—but that does not insulate him from market realities. If New Orleans is committing to a longer timeline, this is precisely the type of move that accelerates a reset without bottoming out completely.
Why the San Antonio Spurs Do the Deal
Draft capital only matters in context. For rebuilding teams, it is currency. For teams on the verge of contention, it becomes leverage.
San Antonio is drifting into the latter category. With Wembanyama anchoring the franchise and the backcourt rotation taking shape, the Spurs are closer to finalizing a long-term starting lineup than cycling through more developmental prospects.
Murphy fits that window cleanly.
The 25-year-old wing is averaging 22.3 points, 6.0 rebounds, and 3.6 assists while shooting 38.1 percent from three in 43 games. His efficiency profile is strong across the board—nearly 50 percent from the field and over 90 percent at the free-throw line—while his defensive versatility allows him to scale up in playoff environments.
This is not simply a 3-and-D role player. Murphy has grown into a legitimate secondary creator, capable of punishing closeouts and carrying scoring stretches when defenses tilt toward Wembanyama.
From a contract standpoint, the fit is just as clean. Murphy signed a four-year, $112 million rookie extension in October 2024, fully guaranteed, with salaries escalating from $25 million this season to $31 million in 2028-29. There is no player option, and the deal runs directly through San Antonio’s competitive window.
Sochan has fallen out of favor. Barnes is not part of the long-term plan. In exchange, the Spurs add a prime-age wing who makes them better immediately without sacrificing future flexibility.
The Bigger Picture for Trey Murphy III
San Antonio is not chasing Oklahoma City out of desperation. They are responding to timing.
The Pelicans, by contrast, are operating on a different clock entirely. As the Western Conference’s bottom-dwelling team, New Orleans is positioned to explore a broad sell-off. Outside of Derek Queen and Jeremiah Fears, nearly every player on the roster should be available at the right price.
Zion Williamson may dominate headlines, but Murphy is the asset most likely to deliver meaningful draft equity. If New Orleans can extract an additional pick or sweetener, all the better. The logic remains unchanged.
If the Thunder’s run defines this era, San Antonio’s counter will not come through patience alone. Deals like this are how challengers are built.
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