Report: Early belief that Indiana Pacers center Jalen Smith will turn down player option

Smith has until late June to decide on his player option

Apr 1, 2024; Indianapolis, Indiana, USA; Indiana Pacers forward Jalen Smith (25) shoots the ball while Brooklyn Nets forward Trendon Watford (9) defends in the first half at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports / Trevor Ruszkowski-USA TODAY Sports

According to a report from MIchael Scotto in HoopsHype, the current belief is that Indiana Pacers center Jalen Smith will turn down his player option and become an unrestricted free agent during the 2024 offseason.

Scotto notes that no decision has been made yet, but the early indications are that Smith will decline the option. The Pacers signed the young center to a three-year deal back in 2022, but the third year of the contract contained a player option.

That option has to be decided on by June 29. Should Smith opt in to his deal, he would carry a cap hit of just over $5.4 million this coming season and would become eligible for a contract extension with Indiana. If he declines the option, the 24-year old would become an unrestricted free agent.

Smith's initial deal was worth just over $15 million in total, including the option year. Indiana had several restrictions on the salary they could offer the center during the first two years of his contract, so the player option likely helped bridge any financial gap between the two parties.

The 2023-24 season was up and down for Smith. He was one of the best outside shooters in the NBA for a few months, and he ended the campaign shooting 42.4% from long range. But he was inconsistent, and his shot fell off. Come playoff time, Smith was out of the rotation for the blue and gold.

At his best, he was undoubtedly more than a $5.4 million dollar player. But the end of his season changed that calculus a bit. Money almost certainly isn't the only thing that may matter to Smith, though. Getting a longer contract or finding a home where more minutes could be available — Indiana still has Myles Turner and Isaiah Jackson on their roster, and Obi Toppin was occasionally used as a five man — both may be appealing options to Smith. As an unrestricted free agent, he would be free to choose his next team. He also could re-sign with Indiana.

Early in Smith's fourth season, he looked confident and earned Indiana's backup center role. He played a vital role in many wins. But injuries and inconsistent play slowly lowered Smith's minutes. By the postseason, he was rarely playing — he only hit the hardwood for more than 10 minutes in two postseason outings.

While the Maryland product may be able to maximize his earnings in the 2024-25 season by exercising his player option, there are many long-term considerations for Smith. His player option is worth monitoring over the next two weeks, and Scotto's report is the first to mention which direction the young center may be leaning.

The entire report can be read in HoopsHype here.

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