The New Orleans Pelicans’ struggles have shown no signs of slowing down, and with the Feb. 5 trade deadline just a week away, the franchise is expected to explore deals involving veteran players in exchange for future-facing assets.
Trey Murphy III and Herbert Jones are among the names drawing interest around the league, but New Orleans is reportedly setting a high asking price and seeking significant returns in any potential trade.
Pelicans Seeking Desmond Bane–Level Return in Trade Talks
The Pelicans sit 15th in the Western Conference, with just 12 wins in 49 games, and multiple key players, including Zion Williamson, Murphy, and Jones, appear to be on the trade market. According to NBA insider Marc Stein, however, the Pelicans are setting a high bar for any potential deals.
“What would it take to get the Pelicans to relent on their oft-cited resistance to trading either Trey Murphy III or Herb Jones? I’ve heard this one from multiple teams lately: They would want a Desmond Bane-type offer,” Stein wrote.
“Orlando parted with four future first-round picks and a first-round pick swap to acquire Bane from Memphis in June.”
For context, Orlando acquired Bane from Memphis during the 2025 offseason, sending Kentavious Caldwell-Pope, Cole Anthony, four future first-round picks, and a first-round pick swap in return. Such a steep price underscores New Orleans’ commitment to retaining its star talent, leaving only players like Yves Missi and limited assets available.
Jones, an All-Defensive caliber wing, has drawn significant interest from the Los Angeles Lakers. However, the Lakers may be reluctant to part with more than their 2031 and 2032 first-round picks, a young player like Dalton Knecht, and an expiring contract such as Gabe Vincent.
Murphy, meanwhile, is an All-Star-level talent and one of the Pelicans’ most feared shooters. He has made 38% of his career three-point attempts and contributes athleticism on defense. The 25-year-old is currently averaging 21.9 points and 6.0 rebounds per game while shooting 47.9% from the field and 36.9% from deep.
Murphy’s $112 contract runs through the 2028-29 season and is certainly not an overpay given his skill set. Yet, he has yet to fully realize his potential. The Golden State Warriors have expressed interest but may be hesitant to match New Orleans’ high demands, which would require sending more than Jonathan Kuminga, Moses Moody, a 2026 first-round pick, a 2028 top-10 protected first-round pick, and a 2030 first-round pick.
While the Pelicans’ asking price is steep, approaching the Feb. 5 trade deadline could shift priorities. The Lakers, facing defensive weaknesses, could be motivated to make a serious play for Jones, but a package of four first-round picks and two players for Murphy remains far beyond what most teams are willing to offer.
