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The New Orleans Pelicans keep winning big with Trey Murphy III. The 17th overall pick in the 2021 NBA Draft just inked a team-friendly four-year, $112 million rookie scale contract extension with the franchise. Not only is Murphy III's average annual value on the lower end of what could have expected, but the structure allows for some future salary cap flexibility as well.
New Orleans will pay out approximately $25 million in the first year of the deal, roughly 16% of the salary cap. The Pelicans will have Murphy III at a projected estimate of $31.5 million, just over 15% of the cap, in the final year of the deal.
Herb Jones ($13.9 million) and Murphy III ($25 million) account for about 25% of the cap space next season and that combined percentage drops lower every year. That is a steal considering the rotational flotsam and untradeable All-Stars that will individually slice into more than 20% of another organization's space.
Murphy III has made a name for himself as a lethal sharpshooter ready to cock back a highlight reel dunk on anyone. The 24-year-old (14.8 points and 4.9 rebounds per game last season) was in line for more minutes this year. He has been hovering just under the 40% mark from three-point range over 198 career games.
Murphy III is unavailable for the regular season opener at home against Lonzo Ball's Chicago Bulls. He suffered a hamstring strain on October 3 during a Nashville-based training camp. The Pelicans said Murphy III would be re-evaluated in three weeks but will surely need a ramp-up period before being fully reintegrated into Willie Green's rotations.
Pelicans rarely allow player options
EVP David Griffin's all-in or all-out approach has been in place since dealing with the Anthony Davis situation. The Pelicans hold firm when it comes to player options which can be used as locker room disturbing leverage. Trey Murphy III joins Zion Williamson, Brandon Ingram, CJ McCollum, and Herb Jones in not getting a player option tacked onto the end of their respective contracts.
Williamson and Ingram were inked up for full five-year extensions on their second NBA contracts. Jones and McCollum came on board for another three. There is one player who earned a player option during negotiations though.
Jose Alvarado. And everyone understands why those contracts were structured that way. Being locked up for a full five years gave Williamson and Ingram injury security and maximized market trade values. McCollum and Jones got fewer years but more clarity on their pathway to a huge unrestricted free agency payday.
Alvardo added a year (or two) at a reasonable rate but the Pelicans had to provide him a pathway to a $10 million per year deal. The fan-favorite fought too hard, for too long, and the team risked losing Alvarado for nothing too early. New Orleans needed to find a middle ground with Alvarado that was unnecessary with Murphy III's representatives.
