Does Pacers Signing Myles Turner to Long-Term Extension Make Sense?

For the first time in his career, Myles Turner will be a free agent. This is the first time that the Indiana Pacers might not be able to keep him,
Turner has been in trade rumors for a really long time. It seems like the last six seasons have included rumors of teams wanting to trade for Turner.
The Pacers never made a move, and Turner has become the longest-tenured player by far on the current roster. This is his tenth year in Indiana and he has become a team leader.
Turner will be exploring offers from other teams this summer. Does it make sense for the Pacers to bring back Turner on a long-term deal?
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The answer is unequivocally yes. Indiana was without Turner for five straight games before the All-Star break and their defense cratered.
On Thursday night, he came back to face the Grizzlies and was excellent. He had 17 points, ten rebounds, and a whopping seven blocks.
It was clear how much the team missed him when he was gone. Thomas Bryant was not good enough on either side of the court to keep teams from respecting him.
Turner is going to want a lot of money in free agency, as he should. It's clear that other teams really value his team.
Indiana needs someone with his skills for the rest of the team to work. He's the perfect 3-and-D guy to fit around the other pieces that the Pacers have on their roster.
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Re-signing Turner would put the Pacers in the luxury tax for the first time in 20 years. This isn't something that the team does.
Another argument to keep Turner is the fact that there aren't any better options in free agency over the summer. Turner is clearly the best center in this free-agent class.
If the Pacers don't bring Turner back, or do a sign-and-trade with him for another good center, they will no longer be a contender. They will choose cheapness over competing.
This season, Turner is averaging 15.1 points, 6.6 rebounds, and 1.5 assists per game.
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