Indiana Pacers center Jalen Smith opting out of player option, will become unrestricted free agent

Smith spent the last 2.5 seasons with Indiana

Mar 3, 2024; San Antonio, Texas, USA; Indiana Pacers forward Jalen Smith (25) dribbles against San Antonio Spurs center Victor Wembanyama (1) in the first half at Frost Bank Center. Mandatory Credit: Daniel Dunn-USA TODAY Sports / Daniel Dunn-USA TODAY Sports

INDIANAPOLIS — Indiana Pacers center Jalen Smith will opt out of his player option for the 2024-25 season and become a free agent, league sources have informed Pacers on SI.

Smith had until 5 p.m. Eastern Time on June 29 to decide on the option in his contract. It would have paid him $5.4 million in the coming season, but he will now explore the market for a new agreement in free agency. The 24-year old signed a three-year, $15.1 million deal back in 2022, but the third season contained a player option.

It's possible for the Pacers to retain Smith on a new deal since they hold his Early Bird Rights, but their proximity to the luxury tax could make a reunion tricky. Smith, Obi Toppin, James Johnson, and Doug McDermott are now the Pacers incumbent free agents that have not yet agreed to re-sign with the blue and gold.

"He can shoot, he can make stuff down low, he can roll. I think his thing is just getting that dose of confidence," Pacers starting center Myles Turner said of Smith during the most recent season. The young big man earned the backup five man job in Indiana after a strong summer of 2023 and hot start to the season. "There's nobody that worked harder than Jalen Smith in the summer," Pacers head coach Rick Carlisle said during the campaign.

Smith re-signed with the Pacers and was granted the starting power forward role next to Turner two years ago. Indiana was limited in what they were able to offer the young big man in free agency back then, but a player option and the opportunity to start had to be appealing to Smith.

He opened games for a few months to begin the campaign in 2022-23, but it became clear that he was better suited as the backup center. He has spent most of his time in that role since inking his deal with the Pacers.

"At the end of the day, I can play both positions," Smith said in late 2023.

Smith averaged 9.9 points and 5.5 rebounds per game this past season for the blue and gold, and his shooting from deep was valuable. He knocked down 42.4% of his three-point looks while taking five outside shots per 36 minutes — he became a reliable threat from the perimeter.

But as the season progressed, his accuracy dipped. Injuries popped up here and there, and the Pacers changed their frontcourt rotation. Come postseason time, Smith was the backup center, but he was quickly removed from the rotation.

The young big man only played more than 10 minutes in a playoff game twice. Isaiah Jackson took over the backup center job and played well in his stints, and he kept that role for most of the postseason. Smith was primarily rooted to the bench.

Now, with his player option decision coming, Smith had to think about not only his finances but also his role. In the end, he chose to opt out of his contract. He is free to sign with any team as an unrestricted free agent.

Indiana now has 10 players under contract for next season, though that does not include the reported agreement for Pascal Siakam and a to-be-determined contract for 35th overall pick Johnny Furphy. Free agency officially opens at 6 p.m. Eastern Time on June 30.

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