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The New Orleans Pelicans have secured one of their rising talents on the day of the rookie extension deadline. ESPN's Shams Charania reports that Trey Murphy III has inked a lucrative four-year, $112 million contract extension with the Pelicans, solidifying his future with the team.

OKLAHOMA CITY, OKLAHOMA - APRIL 21: Trey Murphy III #25 of the New Orleans Pelicans looks on against the Oklahoma City Thunder in game one of the Western Conference First Round Playoffs at the Paycom Center on April 21, 2024 in Oklahoma City, Oklahoma. (Photo by Cooper Neill/Getty Images)

This story will be updated.

New Orleans Pelicans guard Trey Murphy III has agreed on a four-year, $112 million rookie contract extension with the franchise, sources tell ESPN. pic.twitter.com/XgRPSFIhP4

— Shams Charania (@ShamsCharania) October 21, 2024