Former Raptors Star Nearing Lucrative New Contract Ahead of Free Agency

Former Toronto Raptors forward Pascal Siakam is reportedly nearing a long-term contract extension with the Indiana Pacers ahead of free agency

Feb 14, 2024; Toronto, Ontario, CAN; Indiana Pacers forward Pascal Siakam (43) dribbles the ball past Toronto Raptors forward RJ Barrett (9) in the first half at Scotiabank Arena. Mandatory Credit: Dan Hamilton-USA TODAY Sports / Dan Hamilton-USA TODAY Sports

Pascal Siakam is about to get paid.

The former Toronto Raptors forward is reportedly nearing a long-term contract extension with the Indiana Pacers, according to Scott Agness of Fieldhouse Files. The terms of the deal have yet to be reported but Siakam is likely heading toward a contract at or near the maximum allowable extension ahead of his free agency this summer.

Toronto dealt Siakam to the Pacers in January as the organization began a pivot into a new era with Scottie Barnes at the forefront. The Raptors received Bruce Brown Jr., Jordan Nwora, Kira Lewis Jr., and three first-round picks for the former All-NBA forward.

Siakam had wanted to stay with Toronto but the two sides were unable to come to terms on a contract extension and with 30-year-old forward heading into unrestricted free agency this summer the Raptors opted to move on from the franchise icon.

Indiana can ink Siakam to a max contract worth up to $245 million over five seasons. It's unclear if Siakam will receive the full maximum value and maximum term on his new deal but it'll likely be very close to the full maximum to keep him with the Pacers.

Siakam appeared in 41 regular season games for Indiana following the trade and averaged 21.3 points, 7.8 rebounds, and 3.7 assists per game with slightly improved offensive efficiency. In the post-season, he led the Pacers to a conference finals berth while averaging a team-best 21.6 points across 17 games before bowing out to the Boston Celtics.

The 6-foot-9 forward previously spent eight seasons in Toronto where he helped lead the Raptors to the 2019 NBA championship and earned the league's Most Improved Player award in 2019. He earned two All-Star nominations and was twice named to an All-NBA team.