New Orleans Pelicans forward Trey Murphy III has agreed to a four-year, $112 million contract extension, according to a person familiar with the deal.

Trey Murphy III and the New Orleans Pelicans have agreed to a four-year, $112 million contract extension, Murphy's agents told The Stein Line's Marc Stein on Monday. Murphy, 24, is the second player eligible for a rookie-scale extension to accept a non-max deal this offseason.

The New Orleans Pelicans and forward Trey Murphy III agreed to a four-year, $112 million contract extension. Sources told ESPN, NOLA.com and The Athletic about the agreement Monday. Murphy, the No. 17 overall pick in the 2021 NBA Draft,