What Would it Take for the Indiana Pacers to Trade for Trey Murphy III?

On May 17, 2026, Indiana Pacers superstar point guard, Tyrese Haliburton, was photographed sitting courtside at the Indiana Fever's home game against the Seattle Storm. The picture went viral in the Pacers world as New Orleans Pelicans star small forward, Trey Murphy III, just so happened to be accompanying Haliburton for the game.

This led to speculation that something bigger was brewing. Because, why would the talented two-way forward randomly be in Indiana a week after the NBA Draft Lottery --where the Pacers lost their top-four protected first-round pick-- sitting next to their franchise cornerstone? Could this be option one of the Pacers "contigency plan"?

While there is no evidence that the two players talked about teaming up together, there is a logical reason why Murphy III was in town. The following day, Murphy III was a guest on the Club 520 Podcast, where the two teamed up for a crossover episode with The Old Man and the Three.

In this conversation, Teague told Murphy III, "You'd be an All-Star if you played for the Pacers."

This quote was then clipped and shared all over social media as fans started wondering what the Pacers would look like if Murphy III were to be traded here.

A 6-foot-8 forward with a 7-foot wingspan who is a career 38.2% three-point shooter and has averaged over 21 points per game over the last two seasons is hard to come by.

If the Pacers have serious interest in Murphy III, there are probably a dozen teams that also have that same interest. And if the Pacers want to pry him away from New Orleans, they're going to have to give the Pelicans an offer that is worthwhile.

The Price for a Two-Way Wing

History shows us that trading for a wing is extremely costly.

The New York Knicks made a ginormous trade with the Brooklyn Nets when they acquired Mikal Bridges. They sent out four of their own first-round picks in 2025, 2027, 2029, and 2031, and an additional Milwaukee Bucks first-round pick in 2025. Other players were involved to make the salary work, but this was all about the picks.

Murphy III's former teammate, Brandon Ingram, was traded to the Toronto Raptors at the 2025 NBA Trade Deadline for two veterans to make the salary work, as well as a first-round pick and a second-round pick. Ingram was on the final year of his rookie extension and with the Pelicans not wanting to sign him to a new deal a trade was imminent. This is why the trade value was significantly lower than what the Knicks paid for Bridges.

Ingram Butler — Mar 4, 2021; New Orleans, Louisiana, USA; New Orleans Pelicans forward Brandon Ingram (14) is defended by Miami Heat forward Jimmy Butler (22) in the fourth quarter at the Smoothie King Center. Mandatory Credit: Chuck Cook-Imagn Images | Chuck Cook-Imagn Images

The Warriors acquired Jimmy Butler at last year's Trade Deadline and had to give up Andrew Wiggins, Dennis Schroeder, and a Top-10 protected first-round pick in 2025. Butler was 35-years old and on an expiring deal.

For the Cavaliers to acquire DeAndre Hunter, they had to give up two rotational players, two first-round pick swaps, and two second-round picks. They flipped Hunter the following year after he struggled to produce for Cleveland.

Avdija Siakam — Nov 27, 2024; Indianapolis, Indiana, USA; Portland Trail Blazers forward Deni Avdija (8) dribbles the ball while Indiana Pacers forward Pascal Siakam (43) defends in the second half at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-Imagn Images | Trevor Ruszkowski-Imagn Images

When Portland acquired Deni Avdija, they had to give up a veteran in Malcolm Brogdon, a young prospect in Bub Carrington, as well as a first-round pick and two second-round picks. Avdija was considered a good player on a bad team, but burst into a star when given more responsibilities in Portland.

For the Pacers to acquire Pascal Siakam they traded three first-round picks and players to match salaries. Siakam was on an expiring deal, and many around the league thought Indiana overpaid for a guy who could walk in Free Agency. The deal clearly paid off as Siakam signed a new max extension and helped lead the team to their second ever NBA Finals.

How Much Will Trey Murphy III Cost the Pacers?

Murphy III will turn 26 in June and won't be a free agent until the summer of 2029. With three years left on his deal and just now entering the prime of his career, this means that the Pacers will have to give up a significant amount (if not all) of their assets to acquire him.

There has been zero reporting that Murphy III has requested a trade from The Crescent City. This puts all the control in the Pelicans hands if they were to listen to trade offers on their star wing.

The most the Pacers can offer in a trade is their 2027, 2031 and 2033 first -round picks unprotected, and their 2028, 2030, and 2032 swaps. It would most likely cost the Pacers all three of their first-round picks to be in the hunt for Murphy III, and that's without including player's to match salaries.

Who Would the Pacers Have to Trade in the Deal?

McConnell Nesmith — Mar 29, 2023; Indianapolis, Indiana, USA; Indiana Pacers forward Aaron Nesmith (23) and guard T.J. McConnell (9) celebrate a made shot in the second half against the Milwaukee Bucks at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-Imagn Images | Trevor Ruszkowski-Imagn Images

If Indiana were only to include Ben Sheppard, Jarace Walker, and Jay Huff in the trade for Murphy III, they would fail to reach enough matching salary. Under the new CBA, teams are prohibited from stacking minimum salaries in any trade, which means that the Pacers would have to part with one of their core seven players.

The most likely candidates to be dealt in a Murphy III trade are: T.J. McConnell, Aaron Nesmith, and Obi Toppin. The Pacers would be able to match enough salary if they included Jarace Walker with any of these three players in a 2-for-1 trade.

Indiana could also mathematically make this deal work with a combination of Sheppard and Toppin, but Nesmith and McConnell don't make enough to make a deal with just Sheppard legal.

Final Thoughts

TM3 — Jan 16, 2026; Indianapolis, Indiana, USA; New Orleans Pelicans forward Trey Murphy III (25) shoots the ball while Indiana Pacers guard/forward Aaron Nesmith (23) defends in the second half at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-Imagn Images | Trevor Ruszkowski-Imagn Images

While Murphy III would be the perfect fit for the Indiana Pacers, the cost it would take to acquire him would strip the team of all their future assets.

The Pacers sent out two great first-round picks, a young guard in Mathurin who was selected sixth overall, and Isaiah Jackson for Ivica Zubac. If that's what it cost to acquire a Top 10 starting center who is twenty-nine years old, imagine how much it would cost to acquire a strong two-way wing who just entered the peak of their prime.

So yes, Indiana does have the assets to get a deal done, but would it be worth the price? I lean no. Unless the Pelicans asking price is significantly lower than what I have it projected to be, I don't think Indiana makes this big of a "desperation move" to get their franchise back to the NBA Finals.

You can follow me on X @AlexGoldenNBA and listen to my daily podcast, Setting The Pace, wherever you get your podcasts.

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