INDIANAPOLIS, IN - JANUARY 08: Myles Turner #33 of the Indiana Pacers reacts during the game against ... [+] the Charlotte Hornets] at Gainbridge Fieldhouse on January 8, 2023 in Indianapolis, Indiana. (Photo by Michael Hickey/Getty Images)
Getty ImagesThe Indiana Pacers had cap space to burn this season. Entering this past weekend, the front office had the ability to get up to roughly $27 million in salary cap space, meaning the team was below the salary floor. They had many moves they could make.
The Pacers could have taken in significant salary in a trade. They could have signed players that fit their team right or their long-term plan. Truly, they could have done many things.
What they actually decided to do, though, was renegotiate the contract of center Myles Turner and extend his deal at the same time. The agreement came to be over the weekend, and it became official on Monday.
“Today is a great day for the organization. We feel great about it,” Pacers President of Basketball Operations Kevin Pritchard said of the agreement. “I still think [Turner’s] best is still to come.”
Renegotiation and extension deals are rare in the NBA. Robert Covington was the last player to agree to one prior to Turner, and that happened in 2017. James Harden had his deal renegotiated and extended in the summer of 2016. It’s rare, but in the right set of circumstances, it’s possible and savvy.
For a player to have their contract renegotiated, their current deal must span at least four total seasons. If that length is met, then on the third anniversary of said four-plus year deal being signed, a player is eligible to have their contract renegotiated. If their team has salary cap space, they can renegotiate the contract using some of that space.
This year, the Pacers had significant salary cap space — they were below the salary floor prior to the extension. Thus, because Turner was more than three years into his four-year deal that began in 2019, Indiana was able to renegotiate his contract this season and give him a raise. The blue and gold boosted Turner’s salary for the ongoing season up to the maximum — his base salary is roughly $34.6 million, and he has $2.5 million in attainable bonuses.
The Pacers wouldn’t just give Turner more money for nothing in exchange, though. The tradeoff is that Turner added more seasons on to his contract — in this case, two years. Renegotiated salaries are permitted to drop by as much as 40% in the following season, so Turner’s base salary in 2023-24 will be about $21 million, per various reports. In 2024-25, it will drop to about $20 million.
In total, between $17.1 million in new money this campaign and $41 million across the ensuing two seasons, Turner effectively agreed to a two-year extension with $60 million in new money.
“I’m just getting started, man,” Turner said Monday. “I’m starting to feel like the best version of myself is yet to come.”
Beyond agreeing to a deal with fair finances, this length of extension made sense for both parties. The Pacers keep their optionality — they keep Turner on a fair, tradeable deal going forward and can build with and around him while emerging stars Tyrese Haliburton and Bennedict Mathruin grow. Turner gets enough money to stay out of free agency this summer, but he can get back into the market during the summer of 2025. That year, Turner will still be just 29 years old, and the salary cap is expected to rise due to a new television rights deal.
“If you look at the economics of the league, there’s something coming in two [years], and every agent is talking about it. It’s like an artificial wall that’s there,” Pritchard said of the length of the contract.
“I think it has a lot to do with my age,” Turner added of the length. “At least for the next two and a half years, I can just have that security that I’ve been looking for.”
Turner said with a laugh that he didn’t even know this renegotiation style of extension was a thing. But it worked out great for him, and he’s now tied to the franchise that drafted him through the 2024-25 season.
Indiana Pacers center Myles Turner (33) in the second half of an NBA basketball game Friday, Jan. ... [+] 20, 2023, in Denver. (AP Photo/David Zalubowski)
Copyright 2023 The Associated Press. All rights reserved.The Pacers, meanwhile, now have a premier talent under contract. Turner is averaging 17.5 points and 7.8 rebounds per game this season, both of which are career highs. He ranks 16th in the NBA with a true shooting percentage of 64.8%, and he is a terrific defensive talent. He fits the skillset of the Pacers roster — especially now that he is playing an exclusively-center based role that he has hoped for in years past — and he is a key part of the group’s success this season.
“I saw something in games between [Haliburton] and Myles that I thought could be really special,” Pritchard said of his thinking behind the deal. “He’s proven that he can play... There’s a relationship with the point guard that's very unique... there's a unique relationship there that I like,” he added.
The Pacers, who are 24-28, are 20-14 when both Turner and Haliburton play. They are 4-14 otherwise. That fit played a part in this deal, but there was more to it. “He’s 26 years old. He’s still a part of our timeline. It just made sense,” Pritchard said of Turner.
He also noted that this deal will allow the Pacers to be aggressive in free agency in the summer of 2023. Turner’s new salary for 2023-24 is about $6 million lower than his free agent cap hold would have been, so Indiana created cap space in this transaction.
The Indiana Pacers core is now locked up for the foreseeable future. Haliburton, Turner, and rookie guard Benneduct Mathurin have been a forceful trio together, and they can now all grow as a unit for the next 2.5 seasons. The Pacers still have some work to do on the rest of the roster, but the unique structure of Myles Turner’s contract extension means they have more cap space to make necessary improvements. This extension is a win-win for Turner and the Pacers, and it could allow the team to improve even faster in coming seasons.
Tony East, Contributor
https://www.forbes.com/sites/tonyeast/2023/01/31/contract-extension-for-myles-turner-with-the-indiana-pacers-is-a-win-win/
By: Tony East, Contributor
Title: Contract Extension For Myles Turner With The Indiana Pacers Is A Win-Win
Sourced From: www.forbes.com/sites/tonyeast/2023/01/31/contract-extension-for-myles-turner-with-the-indiana-pacers-is-a-win-win/
Published Date: 02-01-2023
Frequently Asked Questions
Which NBA player has had the most blocked shots in a single year?
Mark Eaton, in 1984-85, set all-time records at blocks (456) and blocks per minute (5.56), respectively. Eaton's total in that season was the highest single-season NBA number.
Hakeem Olajuwon holds the NBA record for most consecutive blocks with 3,830. Olajuwon was averaging 21.8 points per game, 11.1rebounds, 2.5 assists, and 3.0 blocks over his 18-year professional career.
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This topic is hotly debated and has been talked about for decades. The 1980-1989 "showtime Lakers" were the dominant team in the league, winning five championships under Kareem AbdulJabbar and Magic Johnson. During this time, the Lakers had stars like James Worthy and Byron Scott. Kurt Rambis was also in their lineup.
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What does NBA refer to as "waived"?
Waived in the NBA means that a team has officially removed a player from its roster. This can be done for various reasons, including salary cap reasons, personal issues, or disciplinary action. After a player has been waived, they are an unrestricted-free agent who can sign with any league team. They are not eligible for the postseason if they are waived after March 1.
Statistics
- Williams would 'likely' accept a deal worth $14-15M/year; Celtics are 'unlikely' to offer such a deal (HoopsHype) (bleacherreport.com)
- An estimated 800 million viewers watched the [105]2017–18 season. (en.wikipedia.org)
- As of 2014, 45 percent of its viewers were black, while 40 percent were white, making it the only top North American sport that does not have a white majority audience.[102]As of 2017Democrats than Republicans.[103]Outside (en.wikipedia.org)
- The 2013–14 season opened with 92 international players on the opening night rosters, representing 39 countries and over 20 percent of the league. (en.wikipedia.org)
- Williams would 'likely' accept a deal worth $14-15M/year; Celtics are 'unlikely' to offer such a deal (HoopsHype) (bleacherreport.com)
External Links
si.com
basketball-reference.com
- Thomas Bryant Stats, Height, Weight, Position, Draft Status and more | Basketball-Reference.com
- Dennis Schroder Stats, Height, Weight, Position, Draft Status and more | Basketball-Reference.com
sbnation.com
twitter.com
- Tweet / tweet
- Sam Amico on Twitter: "Timberwolves Waive PJ Dozier, CJ Elleby and AJ Lawson - Hoops Wire https://t.co/xKu1ZTuQZN" / Twitter
How To
How do you buy an NBA jersey?
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