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Trey Murphy III of the Pelicans is a popular NBA trade rumor target.

We are less than a month away from the draft, which is the first opportunity for NBA trade rumors to morph into NBA trade realities. It’s expected that there will be plenty of fireworks in terms of player movement this summer, but the question is whether that starts early at the June draft or drags through July and August.

One thing to bear in mind is that rumors that come up and are talked about a lot in April and May don’t simply die off just because they’re not much discussed in the media. For example, the Celtics’ interest in Giannis Antetokounmpo might have appeared to have waned because it’s not debated on “First Take” four days in a row, but that’s a media thing, not a front office thing. That interest is still there, but it’s a matter of finding pathways to a deal and then deciding whether it’s worth the price.

Nothing has really changed with the trade market–from Giannis to Kawhi Leonard to Austin Reaves–except the media’s focus. Worth bearing in mind.

NBA Trade Rumors New Notes

Still, some fresh looks at different situations are in order.

• The Pelicans played hardball on potential trades for Herb Jones and Trey Murphy at the deadline. Their current posture is much the same, though one exec said he expects Murphy to be the name on everyone’s lips in the next few weeks, and there could be enough bidding that the very stubborn (and rightfully so) Pels finally cave and deal Murphy (like the Clippers did with Ivica Zubac) for a player and multiple first-rounders. New Orleans can thank the Knicks for that.”You look at that Knicks team and you look at the Cavaliers team and the thing that stands out is how much you need two-way wings to in the playoffs. A lot of teams have been looking at Trey Murphy for a while now as a guy you want in the playoffs. He is at the top of a lost of lists, I mean, everybody loves Trey Murphy, but we’ll see what New Orleans does,” the exec said.
• The presumption is that the Spurs have seen enough from Stephon Castle and Dylan Harper to open a pathway to trade De’Aaron Fox. Theoretically, that is true. Realistically? “I would not assume that is happening,” one Western Conference exec said. “He’s got a really big number attached to him ($220 million over four years) and the Spurs value him, his experience and the depth he gives them. They will move him eventually, but I think that waits a year.”
• Another player who can probably be crossed off the trade list is Magic forward Jonathan Isaac, whose $14.5 million deal is only guaranteed at $8 million. He would make good potential trade ballast, but the Magic are facing a cash crunch with Paolo Banchero’s extension kicking in. The expectation is that the Magic will waive Isaac and stretch his $8 million cap hit. Trading him would cost Orlando cap flexibility.

NBA Trade Rumors: We’ve Got Superstars!

OK, now back to our regularly scheduled trade rumor list …

Giannis Antetokounmpo, Bucks. (Remaining contract: two years, $120 million.) A trade sending out Antetokounmpo has proven to be easier to discuss than to execute, and thus there is always a possibility of him–incredibly enough–going back to Milwaukee. That was always going to be an option. But don’t get fooled up the ups and downs. The teams that have been in on Antetokounmpo are still in, it will just take time to arrange all the pieces and those talks are ongoing. In the end, those pieces might not fit and the sides walk away.

Kawhi Leonard, Clippers. (Remaining contract: one year, $50 million.) The Clippers have been hushed on their intentions with Leonard. They’ve publicly said they’re not trading him, but they’re poking around on the market for him nonetheless. They’d like a resolution on the NBA’s Aspiration investigation before they can do much of anything.

Donovan Mitchell, Cavaliers. (Remaining contract: two years, $104 million, player option.) The Cavs are a second-apron team and will need to address the payroll/roster this summer. Trading Mitchell for multiple pieces would be an easy way out of that. But the Cavs seem to have bought into the Mitchell-James Harden timeline, for better or worse, so the expectation is they won’t trade Mitchell but will trade one of their younger guys.

Jaylen Brown, Celtics. (Remaining contract: three years, $183 million.) The Celtics won’t trade Brown just for the sake to be rid of him–nothing he says on a livestream is going to change that. But his trade value is high, so it’s only natural for the team to explore it. As we’ve said, he likely would not wind up in Milwaukee if he is dealt for Giannis, but think about third teams there, like Atlanta, Houston, Golden State, Clippers …

Jamal Murray, Nuggets. (Remaining contract: three years, $160 million.) One exec said it would be a “seismic” move to trade Murray, but given where this franchise is now, it’s something it would have to consider. Like Brown, he has peak value right now and dealing him could help alleviate the Nuggets’ payroll woes.

Kevin Durant, Rockets. (Remaining contract: two years, $90 million, player option.) A report from The Ringer says he is on the market. But is there any team left in the NBA that wants to take on his drama? It would be difficult to find a realistic trade partner.

NBA Trade Rumors: Eye on the Young Guys

Not every NBA trade rumor target is old and overpaid. Teams do not want to give up players in this range, but there can be extenuating circumstances.

Trey Murphy, Pelicans. (Remaining contract: three years, $88 million.) Yup, everyone loves him. Murphy was closely watched in February but the Pelicans would not entertain trade offers for Murphy then. They’re expected to at least listen as they look to reshuffle this summer, but the price will be high. The Pels are not looking for a slow rebuild, so if he is traded, the bet is it would come before this year’s draft, as New Orleans would want to add a pick from this year’s group, as well as future picks.

Evan Mobley, Cavaliers. (Remaining contract: four years, $223 million.) He’s early on in a max deal and has underachieved in general. The Cavs still love him, but when it comes to overhauling the roster, he would bring back the most value. It appears keeping Donovan Mitchell and James Harden is in the Cavs’ near-term plan, and it’s hard to see how Mobley fits with that.

Franz Wagner, Magic. (Remaining contract: four years, $184 million.) The Magic fired their coach and will see how things play out before they trade away their stars. Paolo Banchero could be the potential trade bait, but Wagner’s injury struggles might make Orlando more willing to move on. It’s a longshot to happen this summer, but could come back up at the trade deadline in February.

Zion Williamson, Pelicans. (Remaining contract: two years, $87  million.)  Williamson averaged 21.0 points in 62 games, and New Orleans will be tempted to keep him on board because of it–or, just as likely, they’ll be tempted to sell high.

Rummaging Through the NBA Bargain Bin

Torn ACLs, bad hamstrings, back issues and poor decisions: This part of the list is packed with players who are far from their peak in terms of value.

Kyrie Irving, Mavericks. (Remaining contract: two years, $81 million.) The Mavericks are saying they like Irving as a veteran mentor but in reality, they need to clear the decks around Cooper Flagg and move on. Even coming off a knee injury, Irving has value around the league. Minnesota might be an ideal fit, but don’t hold your breath on the Lakers pursuing him.

Anthony Davis, Wizards. (Remaining contract: two years, $121 million.) He has yet to play a single game for the Wizards and has played just 71 games in two seasons, but he already is dropping not-subtle hints that he wants out. He might have to wait, though. The Wizards want him on the floor, rebuilding his value before they trade him.

Tyler Herro, Heat. (Remaining contract: one year, $33 million.) Injury woes crushed him this season after a very good 2024-25. The time has come for Miami to move on from Herro, but finding a taker will be tough.

Ja Morant, Grizzlies. (Remaining contract: two years, $86 million.) Yawn. The Grizzlies want a deal in which they do not have to give up draft picks to get another team to take Morant, and if they can find one, they’ll take it. That is not going to be easy.

Jimmy Butler, Warriors. (Remaining contract: one years, $57 million.) The Dubs know it would be a cold move to trade Butler as he is rehabbing from an ACL tear, but moving Butler’s contract is their only path to a major trade addition. If you want Giannis, you’re gonna have to be a jerk and deal Jimmy.

Joel Embiid, Sixers. (Remaining contract: three years, $187 million.) Like Morant, the Sixers may need to give up draft picks to get off of the remaining $188 million on his contract. There’s little indication that there is an appetite for that.

Eastern Conference Targets

Jarrett Allen, Cavaliers. (Remaining contract: three years, $90 million.) It’s more likely that Allen gets traded than Mobley, and the Cavaliers could get a good package in return. Allen is a standard offensive center but is a valued rim-runner who can protect the paint.

Jalen Suggs, Magic. (Remaining contract: four years, $124 million, team option.) He has yet to play up to his contract, which is going to make it very difficult to find a landing spot for him. Again, the Magic are probably going to stand pat after changing coaches.

Brandon Ingram, Raptors. (Remaining contract: two years, $81 million, team option.) After Ingram was injured and mostly ineffective against the Cavs, Sportsnet’s Michael Grange floated the possibility that the Raptors could use Ingram’s contract to find a scoring upgrade.

Myles Turner, Bucks. (Remaining contract: three years, $80 million.) This was a disaster move for the Bucks, but teams still value Turner. There’s been talk that the Bucks will send out Antetokounmpo and Turner in a package deal, to clear out his money.

Michael Porter Jr., Nets. (Remaining contract: one year, $40 million, partial guarantee.) The Nets thought they’d get better value for him in the summer than at the trade deadline, though they were not expecting the trade market to be this crowded.

Western Conference NBA Trade Rumor Mill

De’Aaron Fox, Spurs. (Remaining contract: four years, $220 million.) The presumption is that, eventually, the Spurs are going to hand the keys to their young guards, Dylan Harper and Stephon Castle. They already look ready, and moving Fox while he still is at the top of his value would be wise.

Domantas Sabonis, Kings. (Remaining contract: two years, $93 million.) The remaining money on his contract is not pretty, and he is coming off knee surgery, but he could be due for a bounce-back year and his contract is nearing its end. He’s likely to find a new home.

Zach LaVine, Kings. (Remaining contract: one year, $49 million, player option.) LaVine has the player option worth $49 million and almost certainly will pick it up. Does his expiring contract become easier to dump?

Aaron Gordon, Nuggets. (Remaining contract: three years, $110 million.) Gordon has struggled to stay healthy, but is still a valued connective piece when he plays. He needs to be a No. 3/4 option on a good team, and teams aren’t falling over themselves to cough up assets for that.

Klay Thompson, Mavericks. (Remaining contract: one year, $17 million.) Thompson does not fit Dallas’s timeline, and if the Mavs can get anything–youth, a few second-rounders–for him, they will. He’s still a 38% 3-point shooter.

Cam Johnson, Nuggets. (Remaining contract: one year, $23 million.) Johnson has been a disaster in Denver, but he still has enough of a reputation around the league to warrant trade interest. He did not fit with the Nuggets, but he is a very good 3-and-D player and can return to form elsewhere.

Jerami Grant, Blazers. (Remaining contract: two years, $70 million.) A brutal postseason won’t do much for Grant’s value, but he is 32, averaged 18.6 points this year, and is a known commodity around the league. His absurd five-year, $160 million deal is down to two years, which makes it moveable.