The Golden State Warriors have spent much of the offseason searching for a transformational addition alongside Stephen Curry.
LeBron James has dominated the headlines, but another name has remained firmly on the organization’s radar: New Orleans Pelicans forward Trey Murphy III.
Bleacher Report’s Grant Hughes attempted to map out what it might actually take to land Murphy on Friday, proposing a blockbuster deal that would require the Warriors to sacrifice nearly all of their remaining young core and a significant portion of their future draft capital.
Under Hughes’ proposal, Golden State would acquire Murphy, while New Orleans would receive Brandin Podziemski, Moses Moody, a top-four-protected 2027 first-round pick, and swap rights in 2028, 2029, 2030 and 2031.
The proposal illustrates just how expensive Murphy has become despite persistent speculation surrounding his availability.
Murphy’s Price Has Shifted Throughout the Offseason
Getty The Warriors have maintained long-standing interest in Trey Murphy III, but a new insider report suggests New Orleans has set a steep asking price for the standout wing.
Golden State’s interest in Murphy is nothing new.
Earlier this offseason, HoopsHype’s Michael Scotto reported the Pelicans had lowered their asking price from the equivalent of four first-round picks to three, keeping the Warriors among the teams monitoring the 26-year-old wing since last season.
That report fueled optimism that New Orleans might be more willing to negotiate.
Days later, however, NBA insider Jake Fischer suggested the landscape had shifted once again.
Speaking during a Bleacher Report livestream, Fischer said the Warriors remained interested but continued facing a significant salary-cap obstacle.
“The Warriors are interested in Trey Murphy, but they don’t have the salary to send out, and they have their own salary cap crunch coming up,” Fischer said.
Fischer also indicated New Orleans had become increasingly inclined to keep Murphy after initially allowing rival teams to believe he could be available before the NBA Draft.
Taken together, the reports painted a complicated picture: the asking price may have softened, but the Pelicans appeared less motivated than ever actually to complete a deal.
Warriors Would Be Giving Up Their Last Two First-Round Picks
Hughes’ proposal attempts to solve the Warriors’ salary-matching problem by including Podziemski and Moody, but the cost extends far beyond matching contracts.
Moody, the No. 14 overall pick in the 2021 NBA Draft, was a lottery selection who has developed into a dependable two-way wing. Podziemski, selected No. 19 overall in 2023, quickly established himself as one of Golden State’s most versatile young guards thanks to his rebounding, playmaking and basketball IQ.
Together, they represent the final two first-round picks still on the Warriors’ roster after years of aggressive roster-building around Curry’s championship window.
Trading both would effectively end Golden State’s remaining pipeline of homegrown first-round talent while attaching five pieces of first-round draft equity to complete the deal.
Hughes argued Murphy’s value justifies that type of sacrifice.
The versatile forward is entering the second season of a four-year, $112 million contract after averaging 21.5 points, 5.7 rebounds and 3.8 assists while shooting 37.9% from beyond the arc last season.
“Murphy is the best player in this deal,” Hughes wrote. “He’s a 26-year-old wing who brings excellent high-volume three-point shooting, athleticism and upside to an aging, ground-bound roster.”
Would It Be Enough?
The proposal attempts to address the two biggest hurdles Golden State has faced throughout its pursuit: assembling enough matching salary and satisfying New Orleans’ steep valuation.
Instead of multiple outright first-round picks, Hughes proposed one protected first-rounder and four consecutive swap rights, giving the Pelicans several opportunities to capitalize if the Warriors decline after Curry’s era comes to an end.
Whether even that package would persuade New Orleans remains uncertain.
Fischer’s latest reporting suggested the Pelicans currently prefer to keep Murphy despite months of trade speculation, underscoring how highly they value one of the league’s premier young two-way wings.
Still, Hughes’ proposal offers perhaps the clearest blueprint yet for how Golden State could realistically pursue Murphy if its pursuit of James ultimately falls short.
For the Warriors, the question may no longer be whether Murphy is worth targeting.
It may be whether they’re willing to part with the last two first-round players they developed—and mortgage a significant portion of their future—to get him.
Warriors Trade Proposal Sends Moody, Podziemski for Coveted Trade Target