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PORTLAND, OREGON - DECEMBER 14: Stephen Curry #30 of the Golden State Warriors celebrates after making a three-point shot during the second half against the Portland Trail Blazers at Moda Center on December 14, 2025 in Portland, Oregon. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Soobum Im/Getty Images)
The Golden State Warriors are being deliberate, not reactive — even as circumstances around them have shifted dramatically.
That shift came Monday night, when Jimmy Butler suffered a torn ACL, officially ending his season and dealing a heavy blow to Golden State’s championship aspirations. Butler’s injury arrived at the worst possible moment, just as the Warriors were beginning to stabilize after a slow start and climb back into the Western Conference picture.
Losing Butler changes the math. It does not change the philosophy.
With the trade deadline approaching, Golden State’s front office continues to operate with a long view in mind. The goal is not simply to patch holes created by injury or chase short-term fixes. It is to protect competitiveness now while safeguarding what comes next beyond the Stephen Curry era.
That balance has become harder to strike without Butler, who had emerged as the team’s second-best player and a critical two-way presence. His absence effectively closes the door on realistic title contention this season. The Warriors know it. The front office knows it.
But it does not eliminate the need to think strategically.
That tension surfaced again this week.
And one familiar name remains in the picture.
Slater: Warriors’ Interest in Trey Murphy Has Not Gone Away
Trey Murphy III
GettyTrey Murphy III of the New Orleans Pelicans.
According to ESPN’s Anthony Slater, the Warriors’ interest in Trey Murphy III remains very real, even as the New Orleans Pelicans continue to signal they are reluctant to move the 25-year-old forward.
“A name I continue to hear that has long been and is still of interest to the Warriors is Trey Murphy,” Slater said.
That line matters because it reinforces something league circles have quietly acknowledged for months. Golden State is not casually monitoring Murphy. He is viewed as a rare fit — a player young enough to matter later, productive enough to matter now, and versatile enough to scale alongside stars.
The Pelicans’ stance has been consistent. They do not want to move Murphy. But Slater noted that the cost to pry him loose would likely require multiple future first-round picks, a price point that tests how serious the Warriors truly are.
Chef
.@anthonyVslater on the Warriors:
“A name I continue to hear that has long been and is still of interest to the Warriors is Trey Murphy. Pelicans have been signaling they don’t want to move him . . . it could pry the Warriors off a few picks”
Mike Dunleavy Jr. Outlines the Warriors’ Trade Threshold
Mike Dunleavy Jr. Warriors
GettyGolden State Warriors general manager Mike Dunleavy Jr.
Warriors general manager Mike Dunleavy Jr. did not reference Murphy by name during his press conference, but his comments offered a clear window into Golden State’s thinking.
“If we’re talking about draft picks that will be going out when Steph isn’t here,” Dunleavy said, “that player has to be pretty impactful.”
That statement effectively narrows the field.
Golden State is not interested in moving future draft capital for short-term reinforcements or aging veterans. Any deal involving picks beyond the Curry timeline must return a player capable of anchoring lineups well into the next phase of the franchise.
Murphy fits that description cleanly.
Kenzo Fukuda
Warriors GM Mike Dunleavy on what the players they would target if they push their chips in:
“If we’re talking about trading draft picks that will be going out when Steph isn’t here, it’s going to have to be a player back that is going to be here when those picks are going out.”
Why Murphy Continues to Make Sense for Golden State
Murphy’s appeal extends beyond traditional trade-deadline logic.
At 6-foot-8, he provides size and shooting on the wing, two areas the Warriors have consistently searched for in recent seasons. He does not need the ball to be effective, defends multiple positions, and fits seamlessly next to high-usage stars.
This season, Murphy has continued to expand his offensive responsibility while maintaining efficiency, reinforcing the idea that he can scale up or down depending on lineup needs.
That matters for a Warriors team currently navigating life without Jimmy Butler, who suffered a season-ending knee injury. Even with Butler sidelined, Golden State’s trade calculus has not shifted toward desperation.
This is about continuity, not panic.
Limited Realistic Alternatives on the Market
Stephen Curry, Giannis to Warriors, Giannis Antetokounmpo, warriors
GettyGiannis Antetokounmpo #34 of the Milwaukee Bucks and Stephen Curry #30 of the Golden State Warriors.
Part of the reason Murphy remains such a prominent name is the lack of comparable options.
A blockbuster pursuit of Giannis Antetokounmpo would require circumstances that do not currently exist. Lauri Markkanen has lingered on Golden State’s radar in the past, but his contract size would introduce additional complications, potentially forcing the Warriors to move major salary in return.
Murphy represents a cleaner solution.
He is under team control for multiple seasons, fits financially, and aligns with the type of long-term asset Dunleavy referenced when discussing future draft picks.
That does not make a deal likely. It simply explains why the Warriors continue to monitor the situation closely.
Final Word for the Warriors
Nothing suggests an imminent trade.
The Pelicans remain resistant. The Warriors remain disciplined. But the context around Golden State has changed. Jimmy Butler’s season-ending injury has removed any illusion of urgency tied to championship contention, even as it sharpens the need for clarity about what comes next.
That distinction matters.
Golden State is not casting a wide net in search of short-term relief. They are evaluating players who could help stabilize the present while still carrying value beyond it. Any move involving future draft picks must serve both timelines, not simply soften the blow of a lost season.
That is why Trey Murphy remains part of the conversation.
Not as a desperation pivot. As a calculated option.
And for now, he stays firmly on the Warriors’ board.