New coach, new front office, same old story for Zion Williamson's New Orleans Pelicans heading into the NBA Trade Deadline. They are long on theoretical talent, short on wins, and recalibrating how to value fan-favorites Herb Jones and Jose Alvarado. Trey Murphy III sits at the top of the internal hierarchy now, with Joe Dumars reportedly setting a ridiculous price for the market's most sought after sharpshooer.
Remove the 25-year-old from the equation, however, and the Pelicans still control several assets that could shape both this deadline and the next phase of the rebuild.
Pelicans hyping Herb Jones
Unfortunately, Zion Williamson's market is “not really loud at this point; it's quiet,” but a trade is a possibility, per Sam Amick, echoing previous reporting by ClutchPoints. That means Herb Jones ($13.9 million) is the prize of any sell-off in the Gulf South.
The Alabama alum's ability to guard multiple positions and contribute on both ends could command a return of two first-round picks. It may seem steep, but that price has only been rising since this summer. It's a reasonable price to pay for teams at all stages of team-building, too, raising the price even further. Desperate Play-In hopefuls such as the Memphis Grizzlies, teams caught between a reset, a rebuild, or another run, are upping the bidding.
Sam Presti knows the Oklahoma City Thunder needs more titles, not draft picks that will not fit on a roster already overflowing with talent. Proven effectiveness in high-stakes games elevates Jones above flashier names, offering contenders immediate plug-and-play value without the baggage of injury concerns or inflated salaries. He is also locked up through the 2028-2029 season. If Dumars decides to truly rebuild, moving Jones would signal the beginning of a new era, but it would require a king's ransom to pry him away.
Should the Pelicans ask for three first-round picks, even if there are heay protection? Dumars might as well fish around until the deadline. There should be no rush to move Jones in January.
Cashing in surplus salaries
Saddiq Bey has quietly excelled this season, posting numbers that would slot him seamlessly into any top-six rotation. With a team-friendly $6.1 million salary, he represents a low-risk, high-reward option for teams needing wing depth. The Golden State Warriors, for instance, might view Bey as the best fallback option given his shooting and defensive upside. Historically, players like Bey have been very useful in facilitating complex three or four-team deals.
The last player here is not expendable. Grand Theft Alvarado has a forever home in New Orleans, but the departure from the Pelicans is inevitable. Everyone appreciates a fighter who brings energy from the bench. Jose Alvarado ($4.5 million) is also a better ballhandler and shooter than Jordan Hawkins ($4.7 million), not to mention the money. Paired with an expiring contract, someone will offer a project player and multiple second-round picks to rent the GTA experience.
It will hurt, but small moves with surplus salaries are the best way to rebuild. Helping Dumars recoup the four second-round picks David Griffin sent out to shed Devonte Graham's contract in order to duck the luxury tax is Alvarado's last contribution to the Crescent City.
Joe Dumars dealing draft picks
Joe Dumars and Troy Weaver will never hear the end of it regarding the 2026 draft pick, which was dealt away for Derik Queen. Thankfully, New Orleans holds the right to receive the more favorable selection between its own 2027 first-round pick and the Milwaukee Bucks. It is the first meaningful future first-rounder the Pelicans can trade. Its potential as a top-five pick makes it a crown jewel for any negotiation.
Given the current trajectory of both teams, getting in on this action carries the potential to land in the high lottery. The Bucks are middling, face an uncertain future with an aging core, and their fans are just waiting for Giannis Antetokounmpo’s inevitable departure. The Pelicans are the Pelicans, as the league sees it.
The fifth-best asset is that untouched 2028 pick. Front offices value clean, unprotected firsts, especially those attached to unstable situations. Unlike picks further out, this 2028 option benefits from being near enough to project the Pelicans with some certainty, yet distant enough to account for roster turnover. Dumars could attach it to a salary dump, use it as the centerpiece for a veteran acquisition if the team pivots toward competing again, or hold it as insurance for the rebuild.
Outside the top five, patience remains the theme. Williamson's market is in a holding pattern. Jordan Poole will be more valuable as an expiring contract next season; his play and injuries over the past 18 months cannot justify much value right now for other front offices. Dejounte Murray needs to close this season strong to have value at next year's deadline. Perhaps by then, Jeremiah Fears will have grown into the full-time starting role.
Still, whether they choose to rebuild patiently or retool aggressively, these five assets give Joe Dumars the flexibility to chart a new course.
