The Golden State Warriors remain interested in Trey Murphy III.
According to NBA insider Jake Fischer, though, interest alone may not be enough.
Speaking during a Bleacher Report livestream Monday, Fischer said Golden State’s pursuit of the New Orleans Pelicans forward is being complicated by the same issue that has shaped much of the franchise’s offseason: money.
“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.
The comments provide the clearest explanation yet for why the Warriors have yet to emerge as a serious threat to acquire one of the NBA’s most coveted two-way wings despite months of speculation linking them to Murphy.
Warriors’ Salary Cap Creates Biggest Obstacle
The Warriors’ interest is hardly new.
Before last season’s trade deadline, Golden State was among several teams to inquire about Murphy’s availability. More recently, HoopsHype’s Michael Scotto reported the Warriors remained in the mix after the Pelicans lowered their asking price from the equivalent of four first-round picks to three, although Golden State’s level of interest remained “to be determined” as the organization continued monitoring LeBron James‘ free agency.
Fischer’s latest comments suggest the larger obstacle has little to do with Murphy himself.
Instead, Golden State faces the difficult task of assembling enough matching salary while navigating its own salary-cap constraints, making a blockbuster deal significantly more complicated than simply possessing enough draft capital.
The Warriors still control three tradable first-round picks and three second-round picks, but any realistic pursuit would also require constructing a package that satisfies the NBA’s salary-matching rules.
Pelicans Expected to Keep Murphy
Fischer also indicated that Murphy’s trade market has cooled considerably.
“At this point in time, I am working with the belief that the Pelicans want to keep Trey Murphy,” Fischer said. “This whole offseason shadow around him kind of got blown out of proportion by them letting other teams around the draft believe he was available, but there just isn’t really a market for him at that price point that the Pelicans are asking for.”
The assessment represents a notable shift after weeks of leaguewide speculation surrounding Murphy’s future.
While several contenders explored his availability, Fischer suggested New Orleans’ asking price has discouraged serious trade talks, making it increasingly likely the Pelicans keep one of their foundational players.
Murphy Fits Warriors’ Timeline
Getty Draymond Green of the Golden State Warriors steals the ball from Trey Murphy III of the New Orleans Pelicans.
It’s easy to understand why Golden State has remained interested.
Murphy, 26, is entering the second season of a four-year, $112 million contract after a breakout 2025-26 campaign in which he averaged 21.5 points, 5.7 rebounds and 3.8 assists while shooting 37.9% from 3-point range.
His combination of size, elite perimeter shooting and defensive versatility makes him an ideal complement to Stephen Curry while also fitting the Warriors’ desire to become younger and more athletic without sacrificing championship aspirations.
Those qualities have kept Murphy on Golden State’s radar throughout the offseason.
For now, however, the Warriors appear caught between interest and practicality.
The organization still possesses enough draft capital to make an appealing offer if circumstances change, but Fischer’s latest reporting suggests two significant hurdles remain: Golden State’s own salary-cap limitations and New Orleans’ growing belief that Murphy is more valuable staying in a Pelicans uniform than being traded.
As the Warriors continue waiting on the LeBron James domino, another potential offseason target may be drifting further out of reach.
Warriors Get Major Trey Murphy Trade Update Amid LeBron Wait