The Pacers and center Myles Turner agreed to a two-year contract extension Saturday afternoon worth $60 million, league sources confirmed to Fieldhouse Files.

As Adrian Wojnarowski of ESPN first reported, it’s not just an extension — it also includes a renegotiation that enables for the Pacers to pay him an additional $17.1 million this season, raising his total annual salary to $35.1 million, sources said.

Then, he’ll earn $41 million over the final two seasons.

The use of a renegotiation is rare in the NBA, this being the first case since 2017 with Robert Covington, who was also represented by CAA. It requires for the team to have cap space and the Pacers have about $25 million in room.

The Pacers are now above the salary floor as well. They had until July 1 to get there.

This is a value deal that is beneficial to both sides. It was completed before the team departs for Memphis.

Turner, who is in his eighth season with the Pacers after being the No. 11 pick in 2015, is now under contract through the 2024-25 season — when he’ll be 29 years old.

In recent months, Turner switched agents once again and signed with Austin Brown of CAA.

I’m told Brown and the Pacers front office have been in talks over the last two weeks with the deal ultimately being finalized over the last 48 hours.

So at long last, we have some clarity on Turner’s future with the Pacers.

Despite him frequently being mentioned nationally in trade chatter, the Pacers and Turner elected to continue this partnership. And the reality is that was just conversation from the outside — and mostly speculation.

However, as the Pacers began the season embarking on a rebuild, even Turner was surprised to be at Pacers camp on Day 1.

“That’s a good question,” he replied.

The Pacers remained optimistic about their chance to re-sign one of their own in Turner, who was set to become an unrestricted free agent for the first time this summer. Head coach Rick Carlisle visited Turner several times in the offseason and put him through workouts.

“He’s been very loyal to this organization, he sincerely cares about this organization, and I think he covets the opportunity not only to be the guy that is the starting center that is the clear guy at that position, but to also take a leadership role in the development of this team going forward,” Carlisle said before the season.

Playing in a contract year isn’t easy; it’s always in the back of a player’s mind. But Turner, being the primary center for the first time in years (since Domantas Sabonis was traded), has excelled.

He’s averaging 17.5 points and 7.9 rebounds per game, while shooting 54% from the field and 39% from distance.

Those are all career highs. And it helps that he’s playing alongside the best point guard in his career in Haliburton.

“I love pressure,” he said before the season. “I feel like I perform better under pressure. When you sit here and think about the anxiety of ‘Oh man, the contract’ or ‘Oh man, this next game’ you’re just going to spread yourself thin. But nah, I love the pressure. It’s exciting.”

It’s also noteworthy how after Paul George and Victor Oladipo both signaled that they wanted to play elsewhere, Turner’s loyalty has never wavered. He signed up for more, and to be part of the evolving Pacers, now led by Haliburton.

(I got the news while on my drive to Bloomington for Indiana and Ohio State, then wrote this over dinner after checking in with several sources. So please excuse any typos. More coverage on the deal to come.)