The Los Angeles Lakers want Trey Murphy III – and the New Orleans Pelicans know it, which is exactly why the asking price is punishing.
According to reporting by Sean Deveney at Heavy, New Orleans is demanding a “Desmond Bane-plus” package, a benchmark that would require the Lakers to surrender four unprotected first-round picks plus a better player than Kentavious Caldwell-Pope or Cole Anthony.
What Is Confirmed About the Murphy Trade Talks
Murphy averaged 21.5 points, 5.7 rebounds, and 3.8 assists last season while shooting 37.9% from three – numbers that mirror Desmond Bane‘s production before Memphis moved him to Orlando.
He is locked in on a four-year, $112 million contract paying $27 million next season, $29 million in 2027-28, and $31 million in the final year – genuinely team-friendly by current wing-market standards.
The Lakers hold the No. 24 pick in this draft and could package future first-rounders in 2031 and 2033, but that still falls short of four unprotected firsts.
Dalton Knecht has been floated internally but is not considered sufficient as the required player asset in any serious package. The Lakers can absorb Murphy‘s salary into cap space, which helps on the financial mechanics – but cap flexibility does not replace draft capital or a starting-caliber player.
The Bane Benchmark Sets a Brutal Floor
An Eastern Conference executive speaking to Deveney laid out the math bluntly, saying: “They would be looking for something like a Desmond Bane-plus package if they are going to give up Murphy.
“The thing about Murphy is, he is a two-way guy who can shoot, he is that wing player everyone wants but it is really hard to find someone who checks all the boxes. And his contract, in today’s day and age, it’s a good one.
“So, they will want the four picks like Memphis got for Bane, but they’re going to want a player they can use, too. The Grizzlies got Cole and Caldwell-Pope but it is going to take a better player than that.”
That quote is doing a lot of work. The executive is not describing a negotiating starting point – he is describing a floor, and a floor that currently sits above what the Lakers can realistically offer.
The Pelicans are rebuilding, not panicking. They will wait.
Analytical Verdict: 30/70 Odds This Trade Happens Before the Season
Multiple teams beyond the Lakers have registered interest in Murphy, which gives New Orleans real leverage rather than manufactured leverage.
The Pelicans also have Herb Jones locked in alongside Murphy for over $180 million combined – ownership is not desperate to fracture that two-way wing core.
The probability this deal closes before opening night sits at roughly 30/70 against, given the asset gap and New Orleans‘ patience.
The Lakers are already navigating multiple roster-building decisions this offseason, and depleting their entire future draft capital on one wing is a front-office commitment that requires near-certainty on both the player and the surrounding roster. That certainty does not exist yet in Los Angeles.
For fantasy managers and bettors tracking Murphy‘s situation: his value in New Orleans remains elite regardless of trade outcome. A rebuilt Pelicans squad will run through him.
For those monitoring the 2026 NBA Draft and available trade assets, the No. 24 pick is the only confirmed Lakers chip in this conversation – and it is not close to enough on its own.
What Happens Next
The summer trade window and draft-night activity represent the Lakers‘ best opportunity to aggregate additional assets or find a third-team structure that closes the gap.
If Los Angeles cannot identify a starting-caliber player willing to move in a Murphy package, the gap between offer and ask stays wide.
Watch for any Pelicans pivot toward a full youth rebuild – if Zion Williamson‘s availability becomes a long-term question again, New Orleans‘ calculation on holding Murphy changes fast.
