JULY 6: Siakam has officially re-signed with the Pacers, according to the NBA’s transaction log. Assuming Siakam got the full max, as expected, the deal is worth approximately $188.95MM over four years.
JUNE 19: Siakam intends to sign a four-year, maximum-salary contract with the Pacers after the July moratorium ends, according to ESPN’s Adrian Wojnarowski (via Twitter). As outlined below, a four-year max deal would be worth $189.5MM based on the most recent cap projections.
JUNE 18: The Pacers and star forward Pascal Siakam are nearing an agreement on a long-term contract, reports Scott Agness of Fieldhouse Files (Twitter link).
The No. 3 free agent on our top-50 list, Siakam was traded from Toronto to Indiana in January after spending the first seven-and-a-half seasons of his NBA career in Toronto, where he earned two All-Star berths, two All-NBA nods, a Most Improved Player award, and a championship.
In his first 41 regular season games as a Pacer, the 30-year-old averaged 21.3 points, 7.8 rebounds, and 3.7 assists in 31.8 minutes per game with a shooting line of .549/.386/.699. Siakam was Indiana’s leading scorer in both the regular season and the playoffs — he averaged 21.6 PPG on 54.1% shooting in the postseason and helped lead his new club to series victories over Milwaukee and New York, resulting in the franchise’s first appearance in the Eastern Conference finals in 10 years.
The expectation is that Siakam, who is coming off a four-year, maximum-salary rookie scale extension, will once again get the max or something very close to it on his new deal with the Pacers, though no terms have been reported yet. A max contract for Siakam projects to be worth approximately $189.5MM over four years or $245.3MM over five.
The NBA and NBPA agreed to a rule change that goes into effect this offseason, allowing teams to begin negotiating with their own free agents on the day after the end of the NBA Finals instead of on June 30.
Technically, the Pacers were allowed to talk to Siakam even before Tuesday, since he has been extension-eligible since arriving in Indiana. However, a player’s years and dollars in an extension are capped for six months after a trade, so Siakam will likely end up becoming a free agent and then signing a new contract instead of extending his current deal. That means that even if he and Indiana reach an agreement shortly, it’s unlikely to become official until July 6, after the moratorium ends.
With a new deal for Siakam on the books and Tyrese Haliburton‘s own five-year, maximum-salary extension taking effect in 2024/25, the Pacers won’t have any cap room available this offseason, barring cost-cutting moves. They’ll have some breathing room below the luxury tax line for now, but will have a few more contract decisions to make after they work out a deal with Siakam — Obi Toppin will be eligible for restricted free agency, Jalen Smith holds a $5.4MM player option that he may decline, and T.J. McConnell will be extension-eligible beginning in July.
JUNE 29: Free agent forward 
1:12pm: The Wizards will cut shooting guard 
“Derrick is a great player who has immersed himself in the Boston community since joining us in the spring of 2021,” president of basketball operations Brad Stevens said in a statement. “Derrick brings a joy and selflessness to our building every single day. He’s committed to improving and has shown that in each year of his career. More importantly, he cares most about the things that matter, including building great relationships and competing with integrity. We are very lucky that Derrick is a Celtic and are thrilled he’ll be here for years to come.”
“Jayson is a special person and player, and it’s been a thrill for all of us to watch his entire journey in Boston,” president of basketball operations Brad Stevens said in a statement. “He has embraced all that comes with being a great Celtic, and shows consistent and genuine care for every one of his teammates, coaches, and staff across the organization. Despite all the team accomplishments and individual awards, Jayson is committed to constantly improving. He works hard and is extremely driven by the challenges of the game – especially the goal of competing with his teammates for championships. We are obviously ecstatic that Jayson chose to extend his contract and add to his amazing career as a Boston Celtic.”
JUNE 26: The Wizards and Trail Blazers have agreed to a trade that will send forward 
“We are thrilled to add a player like Kentavious to our roster,” team president Jeff Weltman said in a statement. “He is not only an outstanding defender and an excellent shooter, he brings high character and a championship pedigree to our backcourt. We’re very excited to welcome Kentavious to the Orlando Magic family.”