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They both are eligible to sign a contract extension during the offseason, though the deadlines are different. McConnell could be extended any time between now and June 30 of next year — Jackson's deal can't add years anymore after October 21, so there are about three months to get a deal done.
T.J. McConnell (eligible for an extension for up to four years and up to $81 million)
McConnell can ink a deal that would tie him to Indiana until he is, at most, 37 years old. Indiana's future distance from the luxury tax is a big factor in any negotiations, and McConnell could make decent money as a free agent after another quality season. Other teams have reportedly shown interest in acquiring him before, but the Pacers love him.
Isaiah Jackson (eligible for an extension for up to five years and up to roughly $269 million)
Obviously, Jackson is not worth hundreds of millions in contract value, but he is eligible for a five-year extension up to his maximum salary, and that max could climb based on some escalators — just like what happened with teammate Tyrese Haliburton.
Jackson projects to be the Pacers backup center next season, and he could be a good fit long term. But tax concerns are relevant here, too, and Jackson may want to explore the free agent market for the first time in his career. That said, locking in a win-win deal early has become more of a trend for rookie-scale extensions in recent seasons.
The Pacers roster is currently full, but they have roster spots open in future seasons.