The New Orleans Pelicans are not playing around when it comes to Trey Murphy III. According to NBA insider Chris Dodson, the team’s asking price for the 24-year-old wing is steep: 

- Multiple first-round picks

Some in league circles have called the price “ridiculous,” but it appears the Pelicans are fully aware of Murphy’s rising value. Given the number of calls they’ve fielded, the price tag might just be justified.

Murphy is coming off the best season of his career. With Zion Williamson injured for most of the year, Brandon Ingram traded midseason, and Dejounte Murray also missing time, Murphy was thrust into a lead role and delivered. 

He averaged 21.2 points, 5.1 rebounds, 3.5 assists, and 1.1 steals per game, while shooting 45.4% from the field and 36.1% from beyond the arc. His true shooting percentage of 59.8% is further evidence of his offensive efficiency, despite increased usage and defensive attention.

Murphy’s four-year, $112 million contract kicks in next season, a deal that several executives reportedly believe could become one of the best-value contracts in the NBA. 

For a 6-foot-9 wing who can shoot, defend multiple positions, and create offense off the bounce, that kind of player archetype is in extremely high demand, especially among contenders. According to sources, some rebuilding teams view him as a cornerstone piece. Others in playoff contention see him as a missing puzzle piece who could tilt a series.

Given this, the Pelicans' aggressive asking price begins to make more sense. This is especially important for a franchise that just endured a brutal 21-61 season, finishing 14th in the Western Conference. 

The injury-riddled campaign derailed their playoff ambitions from the start, forcing a midseason reshuffling that culminated in the departure of long-time executive David Griffin. Joe Dumars has now taken over as President of Basketball Operations, and changes are already underway.

According to multiple reports, the Pelicans have placed the entire roster on the trade market, including Zion Williamson. Some insiders believe Dumars was brought in with a clear mandate: reset the franchise, even if it means parting with stars like Zion. While Zion’s talent remains undeniable, his value around the league has plummeted due to persistent injuries. 

Still, teams like the Brooklyn Nets and Miami Heat are reportedly monitoring his situation. Brooklyn has the assets and future picks to take a swing, while Miami is searching for its next superstar after dealing Jimmy Butler at the trade deadline.

As for Murphy, the Pelicans aren’t desperate to move him, which makes their demands more about leverage than liquidation. He’s young, under contract, improving, and increasingly viewed as a top-tier wing in the making.

The word “untouchable” hasn’t been used publicly, but the reported trade price sends that exact message: if you want him, be prepared to pay up—big.