*Pelicans also receive 2033 First Rounder (Top 8 protected)

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Pelicans select Felix Okpara and Nick Martinelli

Trade Analysis- The Pelicans finally put the Trey Murphy rumors to rest and pivot toward building long-term flexibility. Bringing back Devin Vassell gives them an established perimeter scorer with room to grow, while stacking additional second-rounders and future firsts gives New Orleans ammunition for future moves or continued roster building. Rather than chasing short-term fixes, they load up assets and reset around a deeper foundation.

The Spurs respond aggressively after falling short in the Finals and make a win-now move. Giving up Vassell and a mountain of future capital is expensive, but Trey Murphy fits almost perfectly into their offensive structure as a versatile shooter and high-level complementary wing. San Antonio clearly believes staying near the top of the West requires bold decisions.