Source: Indiana Pacers and Pascal Siakam agree to terms on four-year max contract

Siakam will stay in Indiana going forward

Apr 28, 2024; Indianapolis, Indiana, USA; Indiana Pacers forward Pascal Siakam (43) celebrates a made basket during game four of the first round for the 2024 NBA playoffs against the Milwaukee Bucks at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports / Trevor Ruszkowski-USA TODAY Sports

INDIANAPOLIS — The Indiana Pacers and star forward Pascal Siakam have agreed to terms on a four-year, $189.5 million deal, a league source told Pacers on SI. There are no options in the deal — it is a straight four-year agreement, the league source added. Adrian Wojnarowski of ESPN was the first to report the agreement.

The contract agreement comes five months after the Pacers made a trade to acquire Siakam with the knowledge that he would be a free agent in the offseason. That deal likely wouldn't have happened if Indiana's decision makers didn't feel good about their chances of keeping Siakam in the offseason. The two-time All-NBA forward is an unrestricted free agent and can choose his next team, but the Pacers had advantages in what they could offer contractually.

"Seeing how a city just breathes basketball and how much support they give to the team. Just being here, the home games, it's incredible," Siakam said of Indiana during his end of season exit interview. "How would you not be a part of that?"

Pacers head coach Rick Carlisle called re-signing Siakam priority number one for the blue and gold in the offseason. He stressed the importance of retaining the star forward after his terrific play during both the regular season and playoffs. General manager Chad Buchanan shared that opinion.

"He had a great playoff run for us, too. Seems to be happy here, we're obviously happy with him. Hope that this is something long term for both sides," Buchanan said of Siakam in late May. "The reality is, we've only had Pascal for half of a season. He's been such a big part of the team but he hasn't had a full training camp with us. He hasn't really settled into Indy yet. I think that's part of our thinking."

A max contract for Siakam currently projects to be for five years and $245.3 million, though the exact dollar amount will depend on where the salary cap lands. The four-year contract that the Pacers and Siakam agreed to is one season fewer than the most it could have been. The total value of the current deal can't be known officially until July.

Siakam averaged 21.3 points and 7.8 rebounds per game during the regular season for the Pacers. He played in 41 games, exactly half of the season, in the Circle City after being traded from the Toronto Raptors for three first-round picks along with Jordan Nwora and Bruce Brown.

Under the NBA's new Collective Bargaining Agreement, teams are permitted to negotiate new contracts with their own free agents one day after the NBA Finals is over. With the Boston Celtics winning the title on Monday, the Pacers and Siakam were free to officially work on a new deal, and they found common ground. Indiana could similarly come to an agreement with Obi Toppin, Doug McDermott, or James Johnson prior to June 30 — which is when free agency typically starts.

Pacers star guard Tyrese Haliburton said this past weekend that he was doing everything he could to keep Siakam in Indiana. "We talk pretty often... me and Pascal are really close. He knows how I feel," Haliburton said Saturday. "I want Pascal here, I'm going to do everything I can to keep him in a Pacers jersey. I love playing with him. We're going to do everything we can to bring him back. I don't have any doubts... he knows he's got a home here."

That all proved to be prescient. Siakam cannot officially sign a contract until July 6 when the offseason moratorium is over, but he and the Pacers have negotiated and come to their agreement. The rest of the process and timing is a formality.

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