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Head coach Steve Kerr (L) and governor Joe Lacob of the Golden State Warriors look on during a game between the Warriors and the San Antonio Spurs during the 2022 NBA Summer League

The Golden State Warriors may have a renewed opportunity to pursue one of their longtime trade targets.

According to NBA insider Marc Stein, interest around New Orleans Pelicans forward Trey Murphy III remains “intense” across the league, and the Pelicans have taken a notable step by becoming willing to listen to offers for the first time under their new front office leadership.

The development could have significant implications for several teams, including Golden State, which aggressively pursued Murphy in previous trade talks.

Pelicans Open Door to Trey Murphy III Discussions

In the latest edition of The Stein Line, Stein reported that rival teams continue to inquire about Murphy’s availability.

“External trade interest in New Orleans’ Trey Murphy III remains intense,” Stein wrote.

While Stein noted that the Pelicans have not actively shopped Murphy, league sources told him that New Orleans is now willing to field incoming offers under executive vice president Joe Dumars.

That represents a significant shift from previous seasons when Murphy was viewed as virtually untouchable.

As one interested team told Stein: “They want a lot.”

Stein identified the Detroit Pistons and Indiana Pacers among the teams that have already expressed interest in the 25-year-old wing, underscoring the league-wide demand for a player widely regarded as one of the NBA’s premier two-way forwards.

Warriors Have Long Coveted Murphy

Golden State’s interest in Murphy is no secret.

The Warriors explored deals for Murphy both last offseason and before the trade deadline, according to multiple reports.

ClutchPoints’ Brett Siegel previously reported that Golden State offered a package centered around Jonathan Kuminga, an unprotected 2026 first-round pick and a lightly protected 2028 first-round selection.

The Pelicans declined.

At the time, New Orleans viewed Murphy as a foundational piece and never seriously entertained moving him despite substantial interest around the league.

Now, with Stein reporting that the Pelicans are at least willing to hear offers, Golden State could once again emerge as a serious suitor.

Trey Murphy III Fits Warriors’ Championship Timeline

GettyDraymond Green of the Golden State Warriors steals the ball from Trey Murphy III of the New Orleans Pelicans.

Murphy’s appeal is easy to understand.

The 6-foot-8 forward is coming off a breakout campaign in which he averaged 21.5 points, 5.7 rebounds and 3.8 assists while shooting 37.9% from three-point range.

His combination of size, perimeter shooting, athleticism and defensive versatility aligns closely with what Warriors general manager Mike Dunleavy Jr. has repeatedly identified as offseason priorities.

The Warriors continue searching for ways to maximize the championship window of Stephen Curry, Jimmy Butler and Draymond Green.

Following Golden State’s playoff exit, Dunleavy emphasized the organization’s desire to add length, athleticism and skill on the wing.

Murphy checks all three boxes.

Price Tag Could Be Significant

The challenge, however, remains cost.

Murphy is entering the second year of a four-year, $112 million contract extension and remains one of the league’s most valuable young wings.

Stein’s reporting suggests New Orleans continues to place an enormous valuation on the former first-round pick despite its newfound willingness to entertain offers.

Golden State possesses several potential trade assets, including the No. 11 overall pick in the 2026 NBA Draft and future first-round selections in 2028, 2030 and 2032.

Whether that will be enough remains unclear.

What is clear is that Murphy’s situation has become one of the most closely monitored storylines of the NBA offseason — and the Warriors are expected to remain firmly in the mix if the Pelicans decide to engage in serious trade negotiations.