Myles Turner agrees to contract extension with Indiana Pacers
Indiana Pacers center Myles Turner has agreed to a contract extension with the team.
Shams Charania of The Athletic reports that the extension adds two additional seasons on to Turner's contract. In total, the Pacers center will receive $58 million in new money — $17 million this season, and $41 million over the next two seasons, according to reports.
Effectively, this extension gives Turner a two-year extension worth $58 million. Charania reported that Indiana and Turner began contract extension dialogue back in December.
Turner's contract would have expired at the end of the season had it not been extended, so this deal prevents the Pacers from being forced to decide between trading Turner and losing him for nothing. Now, while the Pacers can still trade the big man, they do not run the risk of losing him for nothing in the offseason.
This deal is possible because the Pacers have salary cap space, so they are permitted to renegotiate Turner's salary during the ongoing season. It takes the Pacers over the salary floor and gives Turner a sizable raise this season. In exchange, the center added years onto his contract at roughly market value for a big man of his talent level. Turner can now enter free agency at age 29 and negotiate a contract in an environment with a heightened salary cap.
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