Report: Pacers, Siakam agree to 4-year, max contract extension
Pacers wasted no time checking off the top task on their offseason checklist to keep Siakam on the roster.
Following the Pacers exit from the playoffs, Rick Carlisle declared that signing Pascal Siakam to a contract extension was priority one this offseason. ESPN’s Adrian Wojnarowski confirmed on Wednesday that Siakam expects to sign a 4-year, $189.5 million max contract in early July, after the NBA’s free agency moratorium ends.
The risk the Pacers took last January to deal for Siakam has been rewarded. The Pacers forward will certainly be rewarded with obscene amounts of cash, but the Pacers will have the skilled big man for the back half of his prime, continuing to mix in nicely with a young core that he can continue to impact.
I always felt the trade of Bruce Brown and Jordan Nwora was for Siakam’s services last season. But the two No. 1 picks sent to Toronto, was the risk added, hoping the Pacers could work out this extension. Done deal.
Siakam played half of the season with the Pacers, plus the deep playoff run and showed all of the ways he can help deliver W’s for the Pacers. Unfortunately, Tyrese Haliburton’s hammy limited the amount of time the pairing had to play together, but they showed in the playoffs that they have a solid base to build from on the offensive end. The duo played 383 minutes together in the playoffs and finished with a net rating of 11.1 points per 100 possessions, bolstered by a 125.5 offensive rating.
With Siakam in the mix, the Pacers still need help at forward on the defensive end. While he has great length and is a solid help defender in the pain, Siakam is not going to lock down a tough opponent on his own. That was apparent in the playoffs when he rarely matched up with the top offensive options on the other side.
Still, having that second strong offensive option alongside Haliburton is huge. Siakam showed he can create his own shot when possessions go haywire which was such a boost for the Pacers after daylight savings time kick in.
So, about the $189.5 mil. Tony East reported that there are no player or team options expected to be tagged to the deal, so yearly break down is as follow (per Bobby Marks):
2024/25 - $42.3 mil
2025/26 - $45.7 mil
2026/27 - $49.1 mil
2027/28 - $52.5 mil
With the new television rights deal exceeding expectations, these numbers won’t look AS egregious with the salary cap increasing by 10 percent each season. But for now, the big bucks will push the Pacers about $13 million below the $171 million luxury tax threshold which would still allow for a mid-level exception salary. It also could allow money to re-sign Obi Toppin depending on the market for the high-flying forward.
Toppin certainly has a good thing going with the Pacers as his style of play fit perfectly off the bench last season with his rim runs and surprisingly consistent three-point shooting. Consider Toppin a system guy for the Pacers which I would assume limit his market with other teams.
But Toppin’s status, along with the potential extension decisions for Andrew Nembhard and TJ McConnell will be decided in due time as the summer continues. Tonight, what we do know is that the Pacers locked up their top two players for the next four years which will allow the front office to continue filling in the gaps around the foundation.