The Pacers made a big move in-season, trading three first-round picks for Pascal Siakam.
The intention was obviously to sign the two-time All-Star to a big deal after sending out that kind of price to get him, and they completed business promptly on that end.
Siakam will reportedly sign a four-year, $189.5 million max deal to return to the Pacers, according to Adrian Wojnarowski of ESPN. Siakum will reportedly wait until July 6 to officially sign the deal.
Here’s how the deal looks for the Pacers.
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Pascal Siakam contract details
Siakam will earn 30 percent of the 2024-25 salary cap. The official figure for that cap number has not been announced yet, but it’s estimated at $141 million.
Here’s what Siakam’s salary will be given that estimate:
- 2024-25: $42,300,000
- 2025-26: $45,684,000
- 2026-27: $49,338,720
- 2027-28: $52,452,000
Grading Pascal Siakam’s contract extension with Pacers
This deal with the Pacers was somewhat of a foregone conclusion, which is why it was completed so quickly. In trading for Siakam, the Pacers guaranteed themselves the right to offer him the most money. That, along with a surprising Eastern Conference Finals appearance, was enough to convince him to re-sign.
Siakam was better than advertised for the Pacers. He averaged 21.6 points, 7.5 rebounds and 3.8 assists on a sterling 54.1 percent shooting from the field during the 2024 NBA Playoffs. He was at times one of the best performers in the postseason, helping to keep the team afloat in games that Tyrese Haliburton struggled in.
Siakam helped to alleviate a ton of the offensive pressure that Haliburton faced by creating his own offense and generating great shots in the midrange. He also showed how dangerous he could be in transition. That is where these two stars are going to fit best.
The chemistry between the two will be vitally important for the team going forward. Their timelines don’t totally match up given that Siakam is 30 and Haliburton is only 24. This move signals that the Pacers don’t particularly care about that narrative. They are ready to start winning now.
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Very few pundits will expect Indiana to return to the Eastern Conference Finals or beyond. But this is a young team, Haliburton will continue to improve and Siakam has shown that his game adapts very well to the playoffs.
This deal does look like a bit of an overpay, which is partly why the Raptors traded Siakam rather than giving it to him.
My salary model has Siakam pegged at $31.4 million in value in Year 1 of his new deal. He’s still a great player, but probably not a max-level guy. Still, it is very understandable why the Pacers decided to give him that money. They had no other avenues to acquire a player close to his talent level given that Indiana has never been a premier free agent destination.
The Pacers did get a win here at the negotiating table by not offering a fifth year on Siakam’s deal. He likely won’t be worth $50+ million in that age 35 season.
The biggest piece of Indiana’s free agency is done. Next, they should guarantee T.J. McConnell’s $9.3 million salary and look to extend him. Andrew Nembhard is also extension-eligible, and Obi Toppin’s restricted free agency will have to be sorted out.
Grade: B
Pascal Siakam Pacers stats 2023-24
- 41 regular season games
- 21.3 points per game
- 7.8 rebounds per game
- 3.7 assists per game
- 54.9 percent field goal shooting
- 38.6 percent 3-point shooting
- 69.9 percent free throw shooting