When the dust settled, the Atlanta Hawks received three players and two picks from the New Orleans Pelicans in exchange for Dejounte Murray. Two of those players are recent draft picks, including one selected in the top-10 of his class.
They also received two first-round picks. One is unprotected from the Los Angeles Lakers in 2025.
The other will be the lesser (worse) selection of the Pelicans and Milwaukee Bucks in 2027.
There are also significant financial implications on the line. Perhaps most importantly, the rest of the roster’s future is under the microscope after the deal, including Trae Young. He is entering Year 3 of a five-year, $215.1 million contract.
The financial ramifications of this deal cannot be overstated.
“Because the Murray extension that he signed last offseason begins on July 1, this trade has to happen now,” ESPN’s Bobby Marks posted on X on June 28. “Murray has the largest trade bonus in the NBA- $12M.
“The bonus would be spread out over 4 seasons, including 2023-24. It can also be negotiated down.”
Per Marks, Atlanta is responsible for paying that $12 million bonus. Murray signed a four-year, $114 million contract last June. His cap hit for 2024-25 jumps from $25.2 million to $28.2 million as a result.
The Hawks gave four first-round picks (unprotected firsts in 2025 and 2027, swap rights in 2026, and a lottery-protected pick from the Charlotte Hornets with veteran Danilo Gallinari to the San Antonio Spurs for Murray
Hawks get back trio of players and draft picks for Dejounte Murray
The Hawks’ new trio of players – Larry Nance, Dyson Daniels, and E.J. Liddell – will count $19.3 million against the cap this coming season, giving the Hawks just under $6 million in savings as they looked to avoid the luxury tax.
Their total contract value ($29.7 million) is $1.5 million less than Murray’s new 2024-25 hit. The Hawks sit $22 million below the first luxury tax apron and nearly $33 million below the second.
Nance, 31, averaged 5.7 points, 5.0 rebounds, 1.9 assists, and 1.0 steals last season.
He is entering the final year of a $21.6 million contract with an $11.2 million cap hit in 2024-25. The 6-foot-8 veteran plays hustles on both ends of the floor and can play both the 4 and 5 and has even spent time at 3 while with the Cleveland Cavaliers.
Daniels – the No. 8 overall pick in 2022 – averaged 5.8 points, 3.9 rebounds, 2.7 assists, and 1.4 steals last season in 22 minutes per game.
Daniels is a great point-of-attack defender but a shaky shooter (31.2% career 3P).
He is going into Year 3 of a four-year, $25 million contract with a $6 million cap hit in 2024-25 and a $7.7 million club option for the 2025-26 campaign.
Liddell was a second-round pick in the 2022 draft but tore his ACL in summer league. The 6-foot-7 combo forward appeared in eight games as a rookie last season. He did make three appearances with the Pelicans’ G League affiliate, the Birmingham Squadron.
Liddell will count $2.1 million in Year 2 of a three-year, $6.2 million pact with a $2.3 million team option for the 2025-26 season.
The 2025 first-rounder from the Lakers is the more intriguing selection of the two picks, though both selections figure to land outside of the lottery.
Grade – B+: The Hawks added better defensive personnel and gave themselves financial flexibility, but uncertainty around the rest of the roster beyond Risacher and Johnson remains.
Pelicans add down-hill closer at PG in trade with Hawks
The Pelicans’ offense struggled in late-game situations last season. They hope that Murray will help with that.
“New Orleans was 0-24 when trailing entering the fourth and 2-14 in close games and see Murray as a player who can generate offense late in games,” ESPN’s Adrian Wojnarowski posted on X on June 28. “Pels remain committed to core that includes Zion Williamson and CJ McCollum. Pels are trying to find common ground with Brandon Ingram contract.”
The Pelicans are expected to explore trade options with Ingram if they cannot strike a deal. The Hawks are among the teams that have been linked to the 2019-20 All-Star in previous trade speculation, though it is unclear how the draft – and this trade – have altered their plans.
Murray, 27, averaged a career-high 22.5 points while shooting 36.3% on a career-high 7.1 threes per game last season.
He averaged 24.8 points and 9.2 assists during a 23-game stretch with Young sidelined.
Murray was also the Hawks’ second most effective scorer in clutch situations among players with more than two such games. Murray averaged 2.5 points per game in the clutch, defined by NBA.com as within five points in the final five minutes of the fourth quarter or overtime.
He ranked 1.0 PPG behind Young and 1.5 PPG more than his next closest teammate, forward Saddiq Bey.
There are also significant financial implications for the Pelicans in this deal.
“Because New Orleans aggregated the salaries of Larry Nance Jr. and Dyson Daniels, they are now hard capped at the $178.7M first apron,” Marks posted. “Murray has $1.5M in unlikely bonuses that count toward the apron.”
Marks explained the Pelicans are hard-capped because they are taking back more money than they are sending out.
They now sit $2.6 million below the luxury tax line and $8.5 million below the first apron.
Because the deal cannot be made official until July 6 – hence the lack of an announcement from either team so far – there is a chance it gets amended with other players and teams to help the Pelicans avoid the hard cap.
The Pelicans finished last season seventh in the Western Conference standings. But they were swept in the first round of the playoffs by the Oklahoma City Thunder.
In addition to Williamson, Murray joins a core featuring forwards Herb Jones and Trey Murphy.
Murray’s fit alongside McCollum is questionable on paper, so more deals may be on the way. But the latter is at least bigger and more familiar with operating in an off-ball role than Murray’s previous backcourt mate, Young.
Grade – B: The Pelicans are trying to thread a needle few teams have been able to, though they too could have further moves coming that put this transaction in a different light.