The Raptors already made the decision that changes the whole feeling of their contending status, bringing Kawhi Leonard back for Brandon Ingram, Gradey Dick, and draft capital, as they are now expected to discuss an extension with him.
Toronto didn’t make that trade to wait around for two or three years. The Raptors believe they can win the East now, so the next move has to be about making the Kawhi Leonard and Scottie Barnes pairing easier to use in a playoff series.
Trey Murphy III is the kind of player who can do that without changing the hierarchy of the team. RJ Barrett is still a very good scorer, but his game depends more on drives, touches, and operating inside the arc. Murphy brings a better fit because he can score 20 points without needing the ball every time, while also giving Toronto more shooting, size, and defensive flexibility.
New Orleans isn’t actively shopping Murphy, according to Marc Stein and Jake Fischer, and the Pelicans have already rejected offers for him and Herb Jones. Still, the fact that they are listening gives Toronto a reason to make an aggressive call. Barrett plus real future draft value would at least force the Pelicans to think about the direction of a roster that finished 26-56 last season.
Trade Framework
Toronto Raptors Receive: Trey Murphy III
New Orleans Pelicans Receive: RJ Barrett, 2029 first-round pick, 2031 first-round pick swap
Financially, the framework is possible because Barrett and Murphy are both on major second-contract salaries. Barrett is entering the 2026-27 season on a deal worth more than $27.0 million, while Murphy is on a four-year, $112.0 million extension with the same yearly salary.
The picks are what would separate this from a normal player-for-player swap. A 2029 first-round pick carries value because Leonard will be much older by then, while a 2031 first-round pick swap gives New Orleans another chance to benefit if Toronto’s current window closes. The Pelicans would likely ask for more draft assets, but Barrett plus a first-round pick and a long-term swap is at least a serious opening framework.
Why The Pelicans Do This
Moving Murphy would only make sense if the Pelicans receive a player who can still help immediately while also adding future flexibility. Barrett gives the Pelicans that balance because he is already a proven scorer, he is still only 25, and he can take on a bigger offensive role without forcing the team into a complete rebuild.
Barrett put up 19.1 points, 5.3 rebounds, and 3.3 assists last season while shooting 48.9% from the field. His best skill is still his ability to get downhill, use his strength against smaller defenders, and finish through contact. Murphy is the better shooter and easier player to place into almost any lineup, but Barrett offers more direct creation from the perimeter.
That could help a Pelicans offense that still has too many questions around Zion Williamson. Zion remains their main source of rim pressure, while Dejounte Murray gives them another ball handler, but New Orleans still needs players who can create after the first action gets stopped. Barrett can handle more of that responsibility than Murphy and wouldn’t arrive as salary filler.
The draft compensation matters just as much. Toronto’s 2029 first-round pick is uncertain because Leonard will be near the end of his career, and the 2031 swap adds another long-term chance for the Pelicans to gain value. New Orleans wouldn’t need to use those assets immediately, either. They could keep them, package them later, or use them to reshape the roster around Zion.
The Pelicans finished 26-56 last season, so keeping the same structure shouldn’t be treated as the automatic answer. One bad season doesn’t mean Murphy has to go, but it does create a reason to consider a different balance between current production and future assets. Barrett would replace a large part of Murphy’s scoring, while the picks would give New Orleans more options than it currently has.
This still wouldn’t be an easy decision because Murphy is exactly the type of wing every team wants. He is young, athletic, efficient, and under contract. Still, Barrett is a good player, not a prospect, and that makes the offer more competitive than a package built only around picks.
How The Raptors Become The East’s Top Dog
Murphy wouldn’t need to become Toronto’s best player for this trade to change the entire ceiling of the team. The Raptors already have their closer in Leonard, their all-around forward in Barnes, and their main guard in Immanuel Quickley. What they need is a wing who can score without taking touches away from those three, and Murphy fits that role almost perfectly.
His 21.5 points, 5.7 rebounds, and 3.8 assists last season were absolutely impressive considering the 37.9% from three on 8.6 attempts per game. That volume is important because defenses can’t treat him like a spot-up shooter. He can run off screens, shoot in transition, attack closeouts, and finish above the rim, which means he adds scoring without slowing the offense.
Barrett can produce similar raw point totals, but the shot diet is different. His offense needs more drives and more space inside the arc, which creates some overlap with Leonard and Barnes. Murphy would give those players more room because defenders have to stay attached to him beyond the three-point line even as the weak-side helper.
That would make Toronto much harder to guard in the playoffs, no question about it. Leonard could work from the elbows and mid-post without seeing as many extra bodies, Barnes would have clearer driving lanes, and Quickley would gain another elite drive-and-kick target. Murphy wouldn’t need plays called for him every few possessions because his movement alone would create pressure, similar to the role Mikal Bridges plays for the Knicks right now.
The defensive side could be even more important. A lineup with Murphy, Leonard, and Barnes gives the Raptors three large wings who can switch across several positions, while Jakob Poeltl protects the rim behind them. Quickley would usually be the smallest player on the floor, but the size around him would make that easier to cover.
That flexibility gives the Raptors answers against every major East contender. Barnes can take stronger forwards, Leonard can handle top perimeter scorers in important possessions, and Murphy can move between wings and bigger guards. The Raptors’ defense would be almost impossible to crack in a playoff series because they could switch, trap, or stay home depending on the matchup.
The Heat have Giannis Antetokounmpo and Bam Adebayo, the 76ers have Jaylen Brown and Tyrese Maxey, the Cavaliers have their Big Three with LeBron James potentially joining, and the Knicks have one of the deepest rotations in the conference as the current champions. Toronto might not have the most glamorous roster, but Leonard, Barnes, and Murphy could become the best two-way wing group in the East.
That is what would move the Raptors from contender to top dog. They wouldn’t only have star power. They would also have shooting, size, and fewer defensive targets than almost everyone else.
Final Thoughts
The biggest reason to make this trade isn’t only about the next playoff run. Murphy is young enough to help Leonard now and still remain one of Barnes’ main partners after Kawhi starts declining. That gives Toronto something most win-now teams don’t have: a move that helps the present without destroying the next phase.
There is also a lineup advantage that could become huge in the playoffs. Most East contenders have at least one player they need to hide defensively. The Raptors could close games with Jamal Shaed at point guard, and then have five players who are physically capable of holding their own on switches, which would make it much harder for opponents to hunt one matchup on every possession.
That kind of defensive balance might matter more than adding another traditional star. The Raptors wouldn’t need Murphy to average 25 points. They would need him to punish help, defend multiple positions, and keep the offense moving around Leonard and Barnes.
Barrett is a good player, so the trade would carry some risk. But Murphy is the cleaner fit for the version of Toronto that already exists. He would give the Raptors the spacing, athleticism, and two-way flexibility needed to turn the Kawhi reunion into a serious championship team.
