As recently as late October, Indiana Pacers center Myles Turner was making a public case for why he should be traded to the Los Angeles Lakers. In late December, the posture reportedly shifted, with Turner and the Pacers opening up discussions on a potential contract extension to keep Turner in Indianapolis beyond his current deal that expires at the conclusion of the 2022-23 season.
Now, Turner’s new deal is reportedly a reality, with both ESPN’s Adrian Wojnarowski and TNT’s Chris Haynes reporting a re-negotiated agreement on a new contract worth approximately $60 million.
Indiana Pacers center Myles Turner has agreed on a two-year, $60M contract extension that includes an additional $17.1M renegotiation on his 2022-2023 salary, his agent Austin Brown of CAA Sports tells ESPN. pic.twitter.com/17nSSwN14z
— Adrian Wojnarowski (@wojespn) January 28, 2023
Myles Turner and Indiana Pacers have finalized a two-year, roughly $60 million extension, league sources tell @NBAonTNT, @BleacherReport.
— Chris Haynes (@ChrisBHaynes) January 28, 2023
Shortly after, Shams Charania of The Athletic brought the annual financial details.
Myles Turner and Pacers reach agreement to keep Turner under contract through 2024-25 season, salaries as followed, per sources:
– $35 million this season ($18M salary plus $17M of Pacers’ salary space)
– $20.9M in 2023-24
– $19.9M in 2024-25
Total: 2 additional years, $58M.
— Shams Charania (@ShamsCharania) January 28, 2023
This was a unique negotiating position on both sides. Turner is enjoying the most productive season of his career, averaging 17.4 points per game with a 64.7 percent true shooting mark, and he remains a top-tier defensive center. With those impressive efforts, Turner was in the position to command top dollar on the market, but Indiana had an interesting chip to offer.
Because the Pacers have operated more than $25 million under the salary cap after the Phoenix Suns matched an offseason offer sheet for Deandre Ayton, Indiana was able to offer Turner more money for the current 2022-23 season in a way that rarely happens in the NBA. Wojnarowski notes that the $17.1 million in new money for this season is the largest figure in league history, and that balloon payment also allows Indiana to keep Turner’s salary at a very manageable figure for the next two seasons.
With the Pacers exceeding expectations this season on the way to a 24-27 record, the positive vibes likely helped to push this deal over the finish line. Still, this is a good piece of business on both sides, with Indiana taking advantage of odd flexibility and Turner earning a nice bump in salary to combine with security over a longer term.