Pascal Siakam Intends To Sign Four-Year Max Deal With Pacers

JUNE 19: Siakam intends to sign a four-year, maximum-salary contract with the Pacers after the July moratorium ends, according to ESPN’s Adrian Wojnarowski (via Twitter). As outlined below, a four-year max deal would be worth $189.5MM based on the most recent cap projections.

JUNE 18: The Pacers and star forward Pascal Siakam are nearing an agreement on a long-term contract, reports Scott Agness of Fieldhouse Files (Twitter link).

The No. 3 free agent on our top-50 list, Siakam was traded from Toronto to Indiana in January after spending the first seven-and-a-half seasons of his NBA career in Toronto, where he earned two All-Star berths, two All-NBA nods, a Most Improved Player award, and a championship.

In his first 41 regular season games as a Pacer, the 30-year-old averaged 21.3 points, 7.8 rebounds, and 3.7 assists in 31.8 minutes per game with a shooting line of .549/.386/.699. Siakam was Indiana’s leading scorer in both the regular season and the playoffs — he averaged 21.6 PPG on 54.1% shooting in the postseason and helped lead his new club to series victories over Milwaukee and New York, resulting in the franchise’s first appearance in the Eastern Conference finals in 10 years.

The expectation is that Siakam, who is coming off a four-year, maximum-salary rookie scale extension, will once again get the max or something very close to it on his new deal with the Pacers, though no terms have been reported yet. A max contract for Siakam projects to be worth approximately $189.5MM over four years or $245.3MM over five.

The NBA and NBPA agreed to a rule change that goes into effect this offseason, allowing teams to begin negotiating with their own free agents on the day after the end of the NBA Finals instead of on June 30.

Technically, the Pacers were allowed to talk to Siakam even before Tuesday, since he has been extension-eligible since arriving in Indiana. However, a player’s years and dollars in an extension are capped for six months after a trade, so Siakam will likely end up becoming a free agent and then signing a new contract instead of extending his current deal. That means that even if he and Indiana reach an agreement shortly, it’s unlikely to become official until July 6, after the moratorium ends.

With a new deal for Siakam on the books and Tyrese Haliburton‘s own five-year, maximum-salary extension taking effect in 2024/25, the Pacers won’t have any cap room available this offseason, barring cost-cutting moves. They’ll have some breathing room below the luxury tax line for now, but will have a few more contract decisions to make after they work out a deal with Siakam — Obi Toppin will be eligible for restricted free agency, Jalen Smith holds a $5.4MM player option that he may decline, and T.J. McConnell will be extension-eligible beginning in July.