The Indiana Pacers want to build on the 2023-2024 season after overachieving with an Eastern Conference Finals appearance.
They are locking Pascal Siakam for another four years, although the organization has yet to announce the deal's completion.
ESPN and the Associated Press reported that the two camps have agreed on a four-year, $189.5 million contract.
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The deal is not yet official as the NBA will only lift the moratorium for the offseason by July, while the free agency will start on June 30.
The Pacers showed urgency in their intent to keep the 30-year-old forward in their team.
Head coach Rick Carlisle said during their playoff run last month that Siakam is among the team's top priorities entering the offseason, if not the top priority.
"The first very important step is to begin recruiting Pascal Siakam in earnest," he told reporters last May 27.
"That will start today with exit meetings. He's a great player. He was tremendous for us. The acquisition of him in late January really was a key enabler for us to not only make the playoffs but be able to advance in the playoffs. That's something you simply cannot take for granted. You trade for a guy, he has a good experience, but you gotta let him know how important he is. We've been doing it all along, really, but today is more of a, 'Hey, you're our guy.'"
The team followed up on this as the offseason started just yesterday when the Boston Celtics finished the season with a title-clinching Game 5 win against the Dallas Mavericks.
The Pacers have the advantage over other teams when it comes to Siakam, as teams are allowed to talk and negotiate with their current players before they hit free agency.
Pascal Siakam contract breakdown
Siakam, a two-time All-Star with a championship pedigree, will stay with the Pacers until 2028.
He will receive $42 million next season. His biggest annual payment will come in the 2027-2028 season, as he is set to earn around $53 million in 2027-28.
This deal, however, is not a max contract, although he already signed one in 2019 while still part of the Toronto Raptors.
He earned $37 million under the contract from his former team.
Pacers building to contend
The Pacers have grown relatively fast, and coach Carlisle acknowledges that.
He previously said that they were still in the rebuilding mode, but the arrival of Siakam changed that.
When their season ended in the hands of the Celtics, he congratulated his team for their achievement but instantly said that changes would be made.
Siakam will be one of the Pacers' cornerstones, along with Tyrese Haliburton, who is entering his massive contract.
The 2023-2024 season assist leader agreed to a $245 million, five-year deal last summer.
Miles Turner is another player expected to play a huge role for the Pacers moving forward. He signed a 2-year, $40,903,500 contract extension in January last year amid all the chatters that big market teams were courting him.
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