Pacers agree to max out Tyrese Haliburton

The Pacers wasted little time locking up their All-Star point guard for an additional five year.

As the clock struck midnight on Saturday morning, Tyrese Haliburton became eligible for a rookie contract extension. Within a half hour, Woj shared the news from Hali’s agents that the Pacers would indeed extend their star point guard’s contract and leave no dollar behind in doing so.

The new max salary numbers are always stunning until they become a year old, but Haliburton’s reps at CAA wanted to make sure his maximum dollar amount of $260 million over five years was reported clearly.

That number was a bit stunning since I expected the total to be closer to $216 million. In reality, that may be the case. While the $260 million was reported clearly, just how Haliburton can reach that number with escalation salaries that run from the 2024-25 season through the 2028-29 season was not clear.

Making All-NBA teams and other incentives are involved which would bump his salary to 30% of the salary cap. But the baseline prior to incentives kicking in is at 25% of the cap and should start him around $37 million in 2024-25 with around 8% increases. Actually, let Tony East explain it if you want the financial variables. Also, here’s a breakdown from ESPN’s Bobby Marks.

The bottom line is the Pacers locked up Haliburton for the next six years as the leader and face of the franchise. After averaging over 20 points and 10 assists last season while shooting 40% from three-land, Haliburton jumped near the top of the list of dynamic young talents in the NBA. The fact he is signed and willingly working directly with the organization on their future together to develop a contending team makes this a huge day for the Pacers.

The only concern at this point in Haliburton’s career is durability which has been an issue over the past two seasons. However, that is tough to assess since, yes, Haliburton did miss games for legitimate injury reasons, but as the past two seasons turned into runs at the lottery, we will never know how much he could have played if winning at all cost was the goal.

We have every indication that the Pacers will be playing to be a part of the post season this year, which is essential. Haliburton and other young players on the roster need to experience those playoff moments and now the clock is ticking on Haliburton. Six years will go quick, so the Pacers shouldn’t waste any of these opportunities.

This big deal will naturally alter the chemistry on the team, as well. To whom much is given, much is expected, especially by other teammates. Simple human nature, but Haliburton has the goods to manage his role as the top player which is another reason why Kevin Pritchard wasted no time in giving Hali what he wanted.

Haliburton appeared quite happy, as well posting a 34 second clip of ‘The Million Dollar Man’ Ted Dibiase laughing on Twitter.

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Richmond, Indiana’s Desmond Bane also had a big payday shortly after midnight when he agreed to a similar rookie extension that can max out at $207 million dollars. Bane’s journey to that payday may seem quick but coming out of little Seton Catholic high school, he had to be an absolute dog to develop his game and get noticed. IU? Purdue? Notre Dame? Heck, Ball State right up the road? They all missed on Bane as he went to TCU where the real work began. Always a strong athlete, Bane’s work turned him into a knock down shooter and a guard who is tough to handle at either end of the floor. He immediately made his presence felt in Memphis and after a tumultuous end to the season, the Grizzlies locked up Bane, a guy they never have to worry about. A true local legend!