On the day of the rookie extension deadline, the New Orleans Pelicans have locked down one of their young stars. According to ESPN's Shams Charania, Trey Murphy III and the Pels have agreed on a four-year, $112 million contract extension. Christian Clark of NOLA.com reported the deal is set to start in the 2025-26 season and does not include a player option.

Murphy, 24, was taken by the Pels with the 17th overall pick in the 2021 NBA Draft. He's an athletic 3-point sharpshooter who has the right skill set to fit with Zion Williamson, Herb Jones and Dejounte Murray, especially as his defense has continued to improve every season. Over the 2023-24 season, Murphy averaged 14.8 points and 4.9 rebounds per game, shooting 44.3% from the floor and 38% on 3-pointers.

Murphy is the fifth player from the 2021 draft to sign a rookie-scale extension prior to the 6 p.m. ET Monday deadline. Cade Cunningham of the Detroit Pistons, Evan Mobley of the Cleveland Cavaliers, Scottie Barnes of the Toronto Raptors and Franz Wagner of the Orlando Magic all signed their rookie max extension deals in July.