Myles Turner, Pacers Agree To Two-Year Renegotiation-And-Extension

[RealGM Wiretap]

Myles Turner and the Indiana Pacers have reached agreement on a rare renegotiation-and-extension. Turner will up his currently salary by over $17 million, while adding two new years and nearly $41 million to his deal.

Because Turner is extension-eligible and the Pacers have cap space, they were able to push Turner's salary from $18 million to $35 million for this season. From there, Indiana added two years to the deal through the 2024-25 season.

This extension takes Turner off the trade market ahead of next month's trade deadline. In addition, the renegotiation will bring Indiana over the salary floor for this season. The Pacers will have roughly $10 million in cap space to work with before the February 9 trade deadline.

Via Adrian Wojnarowski/ESPN

[HotelVitale]

Cool trick for them, sign him for a team friendly deal by using this year’s extra cap as a huge signing bonus.

[BeesKneesCs]

Cool trick for them, sign him for a team friendly deal by iso’ing this year’s extra cap as a huge signing bonus.

I'm what world is 35 million a year a team friendly deal?

[TheNetsFan]

Cool trick for them, sign him for a team friendly deal by iso’ing this year’s extra cap as a huge signing bonus.

I'm what world is 35 million a year a team friendly deal?

Because $17mil of it counts this year. After this season, he's on a 2 year, $41mil deal (averaging about $20.5mil). Excellent cap management.

[HotelVitale]

Cool trick for them, sign him for a team friendly deal by iso’ing this year’s extra cap as a huge signing bonus.

I'm what world is 35 million a year a team friendly deal?

Maybe you missed the whole premise here. He’s suddenly making 35m this year instead of $18m because the team had an extra $17m under the cap now that they weren’t using anyway. So they basically gift him that amount now so that he signs for a pretty cheap next two years—which also means they have a lot more cap to play with both years. Good stuff for them, and Turner gets the $ he wants too.

[jokeboy86]

This is odd because the way Turner has been talking I thought for sure he wanted out of Indiana badly. He was so open about it.

[BigTex]

Great deal fir Indiana. With Rick Carlisle on board, they could well be in position to make some noise over th4 next couple of years.

[Cassius]

Cool trick for them, sign him for a team friendly deal by iso’ing this year’s extra cap as a huge signing bonus.

I'm what world is 35 million a year a team friendly deal?

Maybe you missed the whole premise here. He’s suddenly making 35m this year instead of $18m because the team had an extra $17m under the cap now that they weren’t using anyway. So they basically gift him that amount now so that he signs for a pretty cheap next two years—which also means they have a lot more cap to play with both years. Good stuff for them, and Turner gets the $ he wants too.

Yeah, initially I felt like they could have given him a modest raise (like 8M) this season, give him the 2/40 so it averages out to 24 per year on the extension; and then use the remaining 10M to acquire a pick for a bad contract. However, as you stated, any money absorbed would eat into future cap space, so instead of getting cute, they built a lot of goodwill with a guy who has been on the block for almost his entire career.

Now go get John Collins in here and kick it into high gear!

[basketballwacko2]

This is exactly what I predicted.

[basketballwacko2]

Cool trick for them, sign him for a team friendly deal by iso’ing this year’s extra cap as a huge signing bonus.

I'm what world is 35 million a year a team friendly deal?

Maybe you missed the whole premise here. He’s suddenly making 35m this year instead of $18m because the team had an extra $17m under the cap now that they weren’t using anyway. So they basically gift him that amount now so that he signs for a pretty cheap next two years—which also means they have a lot more cap to play with both years. Good stuff for them, and Turner gets the $ he wants too.

Actually the Pacers had $27 million in cap space and still have over $10 million to work with.

[basketballwacko2]

This is odd because the way Turner has been talking I thought for sure he wanted out of Indiana badly. He was so open about it.

The story about him turning down the extension was the basic 120% vet extension.

[WillyJakkz]

This sounds like something from the Red Auerbach or pre merger yrs of the League.

I have never heard of something like this happening in the NBA ever.

Has anything ever happened like this before in the more modern days?

[jk31]

This sounds like something from the Red Auerbach or pre merger yrs of the League.

I have never heard of something like this happening in the NBA ever.

Has anything ever happened like this before in the more modern days?

doesnt Happen that often that a Team is 27 Mio under the soft cap during the season while they have a worthy Player to extent

[br7knicks]

Aren't they pretty active and open in trying to trade Turner every year?

[sisibilio]

This sounds like something from the Red Auerbach or pre merger yrs of the League.

I have never heard of something like this happening in the NBA ever.

Has anything ever happened like this before in the more modern days?

Thunder did it with Nick Collison.

[dougthonus]

Obvious move for both sides really. I'd guess the hang up was really just on the number of years being added. Turner's going to get more total money over 2 added years than he would in FA, and the Pacers and him both have a super friendly trade situation if they want to part ways next summer or deadline.

[Ryoga Hibiki]

Also to be considered, the Pacers were not just under the cap, they were under the salary floor.
Renegotiating the deal for this year literally costed them nothing, as the amount under the floor would have been distributed to current players, instead.