New Blockbuster Three-Team Trade Idea Sends Trey Murphy III to Pacers, Hawks Add Standout Backup Point Guard

Although it's always difficult to predict exactly how the offseason will affect the upcoming NBA season, it seems clear that the Eastern Conference is going to be up for grabs. The Indiana Pacers won the conference last year in one of the most surprising championship runs in recent memory, but they are going to be without Tyrese Haliburton for the year. The Boston Celtics have always been a force in the Eastern Conference, but Jayson Tatum went down with an Achilles injury in the second round and will miss the upcoming season. The Bucks made a big move to add Myles Turner, but they had to cut Damian Lillard to do it. In short, the only three teams that seem to be locks for postseason returns are the New York Knicks, Orlando Magic and the Cleveland Cavaliers. That leaves an opportunity for several teams to take advantage.

The Atlanta Hawks are certainly doing their best to seize that opportunity. After trading for Celtics big man Kristaps Porzingis and drafting Georgia power forward Asa Newell, Atlanta reached a pair of huge free agent signings. The Hawks signed a marquee free agent in Wolves guard Nickeil Alexander-Walker to a four-year, $62 million deal in a sign and trade that sent a 2027 2nd-round pick (via CLE) to the Wolves. Then, the Hawks signed free agent guard Luke Kennard to a one-year, $11 million deal. They also got an unprotected first-round pick from the New Orleans Pelicans in a draft-night trade. Given the massive injuries in the Eastern Conference next season, it seems that the Atlanta Hawks are going for it and making moves to put themselves in position to contend. One area they could still use some depth is at small forward or another ball-handler.

While it hasn't made sense at times, the Pelicans have been aggressive this offseason. Making the aforementioned trade up with Atlanta allowed them to land Maryland center Derik Queen and they selected Oklahoma point guard Jeremiah Fears with the seventh overall pick. Trading their 2026 first-rounder clearly indicates they intend to be competitive in the Western Conference next season. Even if their trio of Zion Williamson, Herb Jones and Trey Murphy III all stay healthy, it's unclear how good they could be next season in a loaded conference. If they get an offer they can't refuse, it'd be wise for them to consider trading either Murphy or Jones considering those players hold the most value.

The Pelicans aren't actively shopping either player, but Chris Dodson of ClutchPoints reported the price it would take to land Murphy.

"A serviceable veteran who can log postseason minutes, a decent prospect, and multiple first-round picks is the starting point. Given the number of inquiring calls, it is also indicative of Trey Murphy III's true value, per one source."

Although that's a steep price to set, one possible team that could trade for the Pelicans forward are the Indiana Pacers. The Pacers had an incredible run to the 2025 NBA Finals, but they fell short in Game 7 largely due to an Achilles injury to superstar point guard Tyrese Haliburton. Haliburton will be sidelined for all of next season and it's possible that they could make an aggressive move to complement Pascal Siakam as he prepares to lead the Pacers next season as the primary option. The loss of longtime center Myles Turner can't be discounted either. While Indiana does have its 2026 first-rounder, the addition of Murphy wouldn't necessarily make them a contender in the East and he'd have a year to adjust to the team before Haliburton's return. Indiana has all of its first-rounders and several tradeable contracts.

So how about a deal where each team tries to fill a need?

It should be noted that this is just a speculative and fun exercise to see what kind of moves can be made, not what I think the Hawks or any other teams should do or will do. That is all.

Hawks Receive: Jose Alvarado

Pacers Receive: Trey Murphy III, Karlo Matkovic

Pelicans Receive: Obi Toppin, Jarace Walker, Bennedict Mathurin (S&T, 3YR, $30M), Vit Krejci, 2027 1st-round pick (via IND), 2028 1st-round pick swap (via IND), 2029 1st-round pick (via IND), 2030 1st-round pick swap (via IND), 2030 2nd round pick (via ATL), 2032 2nd round pick (via ATL)

Why the Hawks would do this deal: Atlanta has put a ton of minutes on Trae Young and it has been a while since he had a true backup who could run the offense in his absence. Accordingly, the Hawks would add one of the best backup point guards in the league on a great contract). Alvarado averaged a career-high 10.6 points per game and a career-best 4.6 assists on an AST% of 27.3%. Despite his size, he's a disruptor on defense and would pair nicely with Dyson Daniels on that end. He finished in the 88th percentile across all guards with a STL% of 2.2%, so he is more than capable of holding his own against opposing ball-handlers. That's to say nothing of the fun storyline of Alvarado returning to the same city where he starred for Georgia Tech. For only two second-round picks, this move would be of little risk for the Hawks.

Why the Hawks would not do this deal: Alvarado isn't the most durable player and hasn't played in 65+ games in any season of his career. That could be a problem if he needs to stay ready as a reserve for Young. Furthermore, he isn't really a high-volume shooter. This season, he set a career-best by taking 5.5 threes per game, but he only hit 35.9% of them.

Why the Pacers would do this deal: While it would take a while for this move to pay off, a trio of Murphy, Haliburton and Siakam would be extremely dangerous in the Eastern Conference. They would retain Andrew Nembhard, TJ McConnell and Aaron Nesmith in the deal, giving them an excellent top five while allowing for more development from players like Johnny Furphy and Ben Sheppard. A torn labrum and rotator cuff injury limited Murphy to 53 games, but he made a significant jump as a scorer from last season. This year, he averaged a career-best 21.2 points on 45.4/36.1/88.7% shooting splits while also taking strides as a ball-handler. He posted a career-best AST% of 15.9% and averaged 3.5 assists per game. Murphy is also a solid defender and should allow the Pacers to put Siakam on centers, which he has done in the past. They keep their 2026 first-rounder and could select another rotation player in the deal to replenish the loss of Toppin, Mathurin and Walker. Furthermore, he's only 25 and he's on a very affordable contract that extends for the next four seasons. Matkovic is an interesting prospect - he's an athletic center with some signs of being a useful scorer. He shot 77.3% from the charity stripe and while he only shot 31.8% from deep on limited volume, he's an excellent finisher at the rim (shot 77% at the rim last season - 92nd percentile among all centers) and 51% on midrange attempts (81st percentile among all bigs). He's not a great rebounder and he needs to develop on defense, but he could develop into a useful center for the Pacers with time.

Why the Pacers would not do this deal: Four first-round picks and two players that were a key component of Indiana's Finals squad is a hefty price to pay for a player that has never made an All-Star team and has very little postseason experience. There is always a lot of risk involved in moves like this and the Pacers just made the Finals. This may be too aggressive of a move.

Why the Pelicans would do this deal: Even if the Pelicans have no real intention of trading Murphy, this could be the offer that pushes a trade over the finish line. They would add major future draft capital while still having some access to Bucks picks. That gives them a ton of options to add talent in the next few seasons. Toppin was an excellent reserve for Indiana, averaging 10 points and 4 rebounds in the regular season on 64.2 TS% before having several excellent performances for the Pacers throughout the playoffs. Walker has shown potential throughout his career, but hasn't been able to crack Indiana's rotation. It's possible that he could emerge as a starter with a heavier workload in New Orleans. Mathurin averaged 16.1 points on a career-best 57.9 TS% last year and would be a nice bench scorer for the Pelicans.

Why the Pelicans would not do this deal: With the exception of Walker, none of the players New Orleans is acquiring in this deal have the chance to reach the level of Murphy and it's fair to wonder whether New Orleans would want more established players in exchange for their best player.

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