The Pacers are already staring at a cap sheet that puts a hard clock on this version of the team.
Right now, Indiana has just $2.2 million in room under the first apron after making Kelly Oubre Jr. its main free-agent addition. That leaves the Pacers hugging a line they’d rather stay away from, even if the immediate damage is limited. This summer’s squeeze didn’t cost them much beyond the roster-space casualties in Micah Potter and Taelon Peter, while Jalen Slawson and Kobe Brown were kept on two-ways.
The real issue is what comes next.
Even before accounting for new deals for Ben Sheppard or Jarace Walker, the Pacers are looking at only $8 million below the first apron in 2027-28. Then, the summer after that, almost the whole roster is headed toward free agency.
That’s why this season feels like a waiting game. There are questions around whether Tyrese Haliburton can get all the way back, but the roster is still good enough to make a serious run.
At the same time, the landscape in the East is crowded enough to make every step harder. If Indiana’s window really is the next two years, as the cap sheet suggests, then the Pacers are set to run straight into the full weight of LeBron James' Philadelphia 76ers contract and the continued rise of the New York Knicks.
The warning signs are easy to spot because this kind of thing rarely lasts. Teams that go all-in usually don’t stay there forever, and the league’s second-apron rules only make it tougher to keep a contender intact. Minnesota learned that after its aggressive push for Rudy Gobert, eventually moving Karl-Anthony Towns to create more flexibility, even if that path hasn’t exactly gone cleanly since.
Toronto offers the more sobering comparison. Last year’s Raptors had one of the league’s priciest starting fives, but the money left them boxed in on a mediocre team.
They did get one escape hatch when Kawhi Leonard chose them. Indiana probably won’t get that kind of break.
So the most likely outcome is simple: next season may be the first and last time this group is together in full. If the Pacers find a way to extend Andrew Nembhard, Aaron Nesmith, Pascal Siakam, and Ivica Zubac at the raises they’ll command, then TJ McConnell, Obi Toppin, and whoever wins the bench battle could be the ones walking out the door in the summer.
In Other News...
Pacers Face One Painful Roster Decision After Their Finals Run
Indianas run to the Finals reshaped the conversation around its roster, but it also left the front office with a familiar kind of pressure. The Pacers added Kelly Oubre Jr. and Larry Nance Jr. in free agency, then tried to keep pushing forward after a difficult season without Tyrese Haliburton, who had been at the center of their strong 2024-25 campaign before the Achilles injury that ended his Finals run. Add in the cost of the Ivica Zubac deal, which included future first-round picks, and the long-term picture already feels more complicated than the box score of a deep playoff run might suggest.
Now comes the part Indiana usually tries to manage without crossing its financial comfort zone. The Pacers have generally steered clear of luxury-tax territory, and according to NBA insider Eric Pincus, that could lead to a trade aimed at trimming salary as the offseason unfolds. With contract-extension questions also looming for Pascal Siakam and Haliburton, the roster may need another round of hard choices before the front office can decide how aggressively it wants to keep building on last springs success. [Read more 🡒]
Pacers Clearly Want Braden Smith But One Roster Issue Still Looms
A new ruling out of Colorado added another layer to Braden Smiths path this week, opening the door for certain athletes to take a fifth collegiate season. For the Pacers, though, the more immediate issue is much more ordinary: Smith is already moving toward the pros, and Indiana has not yet finalized a contract as it continues sorting through its roster picture.
The front office has made clear it likes Smith and sees a development path for him, with the expectation that he would spend a lot of time with the Noblesville Boom. The sticking point is roster space on the two-way side, where the Pacers already have their current allotment filled, leaving them with a decision to make before they can bring Smith in on that type of deal. [Read more 🡒]
Pacers Bench Surge Could Create A Costly Problem For Indiana
The Pacers have spent plenty of time building around pace, shooting and depth, but the next wave of that plan comes with a financial catch. With little room below the first apron, Indiana does not have much flexibility to keep every piece if recent draft picks Jarace Walker and Ben Sheppard turn into real rotation anchors, especially as the franchise tries to balance todays push with tomorrows roster planning.
That is where the bench surge could start to look more like a dilemma than a luxury. If Walker and Sheppard keep climbing, the Pacers may eventually have to choose between rewarding homegrown growth and preserving the cap room needed to keep a long competitive window open, particularly with several core players set to reach unrestricted free agency by the end of the 2027-28 season. [Read more 🡒]