JULY 6: The trade sending Murray to the Pelicans is now official, according to press releases from both teams.
“Dejounte is among the best two-way guards in the NBA and adds another dimension to our team, and we could not be more excited to welcome him and his family to New Orleans,” Pelicans head of basketball operations David Griffin said within New Orleans’ announcement.
Cody Zeller was signed-and-traded to Atlanta as part of the deal for salary-matching purposes. His exact contract details have yet to be reported, but ESPN’s Bobby Marks (Twitter link) says the veteran center will earn in excess of $3MM in 2024/25. The contract must be for at least three years, though only the first season needs to be guaranteed.
Zeller’s inclusion means Murray can earn his full $12MM trade bonus.
The 2027 pick going to Atlanta, which will be the least favorable of the Bucks’ and Pelicans’ first-rounders, is top-four protected.
JUNE 28: The Hawks are trading guard Dejounte Murray to the Pelicans, according to ESPN’s Adrian Wojnarowski (Twitter link).
In exchange for Murray, the Pelicans are sending forward Larry Nance Jr., 2022 No. 8 overall pick Dyson Daniels, and two first-round picks to Atlanta, Shams Charania of The Athletic reports (Twitter links). Forward E.J. Liddell will also head to the Hawks in the deal, per Christian Clark of NOLA.com (Twitter link).
According to Wojnarowski (Twitter link), the picks the Pelicans are sending the Hawks in the deal are the Lakers’ 2025 first-round selection and a 2027 first-rounder, which will be the least favorable of the Bucks’ and Pelicans’ picks.
The Hawks originally acquired Murray from the Spurs in 2022 to pair him with star guard Trae Young. Atlanta sacrificed several draft assets – including its own unprotected 2025 and 2027 first-round picks and an unprotected 2026 first-round swap – to give Young a running mate in the backcourt, but the duo never really thrived as hoped.
While Murray was individually solid — averaging 21.5 points per game across 152 appearances with Atlanta over two seasons — the Hawks floundered as a team. Atlanta went 77-87 in Murray’s two years with the team and made the playoffs just once, losing in the first round to Boston in 2023. The Hawks were eliminated in the first play-in game this spring.
With the Hawks struggling at the midpoint of the 2023/24 season, Murray’s name began to come up in trade conversations ahead of the deadline. The Lakers were among the potential destinations mentioned most frequently, but the Hawks opted to not move him at that time.
For the Pelicans, this trade signals they’re looking to continue to climb the Western Conference standings after making the playoffs this season. Murray will provide added offense for a team that went 2-14 in close games last season, and Christian Clark of NOLA.com (Twitter link) says New Orleans believes he and CJ McCollum can coexist. McCollum thrived in an off-ball role last season, Clark notes.
As Wojnarowski reports (Twitter link), the Pelicans are still trying to come to terms on a middle ground with Brandon Ingram on a contract extension. Ingram’s name has frequently come up in trade rumors this offseason, with the expectation being that he’ll end up on the trade block if he and New Orleans don’t agree to an extension. Multiple reports have indicated that the Pelicans don’t intend to offer the forward another maximum-salary deal as he enters the final year of his current max contract.
Once this deal for Murray is completed, the Pelicans will find themselves just $4.7MM under the luxury tax line for 11 players, tweets cap expert Yossi Gozlan. They’ve never paid the luxury tax before and will need frontcourt depth, with just Zion Williamson, Jeremiah Robinson-Earl, and rookie Yves Missi as options for those spots, so it’s safe to assume more moves are coming, including possibly something involving Ingram.
As for the Hawks, trading Murray is a clear signal they’re willing to hear offers on most of their players. Jake Fischer of Yahoo Sports reported this morning that everyone on the roster except for Jalen Johnson and Zaccharie Risacher are on the table. That list of trade candidates – which features veterans like Clint Capela and De’Andre Hunter – could also include Young, though there was an expectation that Atlanta would likely just trade one of him or Murray — not necessarily both.
Young, like Murray, has been brought up in trade rumors since the start of the offseason and it sounds like the Hawks have at least entertained offers for their three-time All-Star. We’ll likely get more clarity on both Ingram and Young’s situations with the Pelicans and Hawks in the coming days.
Assuming New Orleans and Atlanta complete this deal as reported, with no pieces added and no other teams involved, the Pelicans will be hard-capped at the $178.7MM first apron for the 2024/25, ESPN’s Bobby Marks tweets, since they’re taking back more salary than they’re sending out.
The Pelicans and Hawks will also have to take into account Murray’s trade bonus, which had been the largest in the NBA — it’s worth over $12MM, tweets Marks. It will be spread out across three seasons, starting in 2024/25, increasing the guard’s cap hits by approximately $4MM per season. So instead of counting for $25.27MM toward the cap in 2024/25, he’ll have a cap hit of $29.27MM. The trade bonus bump isn’t applied to his player option year in 2027/28.
While the Pelicans must take on Murray’s larger cap hits, the Hawks will be responsible for paying the bonus, Marks notes. There’s also a possibility that Murray will agree to waive some or all of his trade bonus, which would make salary-matching simpler. If he gets his full bonus, the Pelicans will likely need to add more salary for matching purposes.
After sending AJ Griffin to Houston, the Hawks will save some more money in this deal as they acquire Nance’s expiring $11.21MM deal, Daniels’ rookie scale contract ($6.06MM in 2024/25), and Liddell’s minimum-salary pact ($2.12MM). According to Marks (Twitter link), the team’s salary now projects to be about $5.5MM below the luxury tax line with 14 players under contract.
Atlanta will hold team options on both Daniels and Liddell for the 2025/26 season.
Luke Adams contributed to this story.