New Orleans Pelicans guard Trey Murphy III has agreed on a four-year, $112 million rookie contract extension with the franchise, sources told ESPN.

The deal includes no incentives and no player option, sources said.

Murphy, 24, averaged 14.8 points and 4.9 rebounds per game primarily in a reserve role last season.

The 6-foot-8 Murphy has established himself as an outstanding 3-and-D wing. He is a 39.2% career 3-point shooter, including 38.0% on 7.8 attempts per game last season. According to ESPN Research, Murphy and teammate CJ McCollum are the only players in franchise history to make at least 150 3s in multiple seasons.

Opponents shot only 42.2% from the floor when Murphy was the closest defender last season. That was the fifth-lowest percentage among 201 players who were the closest defender on at least 500 shots, according to Second Spectrum data.

Murphy is likely to miss the start of the regular season due to a right hamstring strain. New Orleans opens at home Wednesday against the Chicago Bulls.