What happened: The New Orleans Pelicans lowered Trey Murphy III's trade price from four first-round picks to three amid limited buyer interest. The Boston Celtics, Detroit Pistons, Golden State Warriors, LA Clippers and Atlanta Hawks remain involved to varying degrees.

Why it matters: The reduced price could revive negotiations for one of the offseason's prominent available forwards. New Orleans still seeks a substantial draft return, preserving leverage while broadening the potential market.

What to watch: Watch whether any interested team meets the revised price or pushes New Orleans toward further concessions.