What Could Trey Murphy’s Rookie-Scale Extension With New Orleans Pelicans Look Like?

How much money could Trey Murphy get from the New Orleans Pelicans on his rookie-scale extension?

Apr 3, 2024; New Orleans, Louisiana, USA; New Orleans Pelicans guard Trey Murphy III (25) shoots a free throw against the Orlando Magicduring the second half at Smoothie King Center. / Stephen Lew-Imagn Images

So much focus has been placed on the future of New Orleans Pelicans forward Brandon Ingram, who is seeking an extension from the team. But, he isn’t the only forward who is in need of a new contract.

Trey Murphy, a first-round pick in the 2021 NBA Draft, is also eligible for an extension.

The No. 17 overall pick is set to earn $5.2 million in the final year of his rookie contract. He and the Pelicans have until the eve of the 2024-25 regular season to get a deal done.

There is still some time to get something done, but to this point, there hasn’t been much movement on a deal. What could be the hold-up in negotiations?

The Ingram situation certainly plays a part, as it is hard to envision the franchise giving both players a raise on a long-term deal. All signs currently point toward New Orleans preferring Murphy as a long-term building block.

It is easy to see why, given how well he fits alongside the other core players on the team. The Pelicans want to build around Zion Williamson and compared to Ingram, Murphy fits that mold better, especially with Dejounte Murray now in the mix.

A 39.2 percent 3-point shooter, the Virginia product fits the mold of what teams around the league are looking for in building block players. Calling him a 3-and-D player is selling him short as he has flashed the ability to provide the team with more should the opportunity present itself.

Of course, that opportunity only becomes a reality if Ingram is out of the way.

Given how many people around the league are fans of Murphy, the Pelicans would be playing a very dangerous game not locking him into a long-term deal ahead of the deadline. If he were to hit restricted free agency, all it would take is one team with cap space to make the price skyrocket.

What would be a fair deal for the two sides to agree to and avoid that mess? As shared by Eric Pincus of Bleacher Report, something in the neighborhood of $28.5 million would be market value.

Murphy’s floor would be $26 million per season with a ceiling of $30 million. Jaden McDaniels of the Minnesota Timberwolves and Devin Vassell of the San Antonio Spurs are two solid comps for what his deal with New Orleans could look like.

McDaniels plays the quintessential 3-and-D role for the Timberwolves, while Vassell is a core building block along with Victor Wembanyama for the Spurs. Landing someone in between their numbers, given his undefined role heading into the season, makes sense.

Should the runway be cleared and Murphy steps into a starting role, his price will be viewed as a steal. If he continues coming off the bench, he is viewed as a very expensive sixth man.

If New Orleans does not play its cards right, they are going to find themselves in a difficult situation. A team without a logjam on the wing would happily pay top dollar for a two-way wing just scratching the surface of his potential.