Tyrese Haliburton earns Third Team All-NBA Honors, additional $41M in salary
Tyrese Haliburton earns Third Team All-NBA Honors, additional $41M in salary
In being voted to one of three All-NBA teams by a panel of media across the world, Tyrese Haliburton will earn 30% of the Indiana Pacers' salary cap in each of the next five seasons.
Already, Tyrese Haliburton has the largest contract in Indiana Pacers history.
That was done in July when he agreed to a rookie-scale extension on July 1 that runs through the 2028-29 season. It was the team’s No. 1 priority last offseason.
The maximum rookie-scale extension is for five years and worth $204 million. And it does not include a player or team option in the final year of the season, per league sources.
However, his paycheck is going to increase even more.
Haliburton was voted to the NBA’s All-NBA Third Team, which was announced Wednesday night. That triggers an escalation in his contract, which effect on July 1, to grow his salary from 25% to 30% of the team’s salary cap. That was negotiated in by Haliburton’s agents, Dave Spahn and Aaron Mintz of CAA.
From $204 million to $245 million — an increase of $41 million, per ESPN’s Bobby Marks.
Haliburton was at risk of not qualifying for the All-NBA ballot after he suffered a left hamstring strain on Jan. 8 against Boston. Before the season, the NBA instituted a new rule that a player must play in at least 65 games to be eligible.
Haliburton returned at Boston on Jan. 30 and didn't miss another game despite having a four-game buffer due to the NBA counting the In-Season Tournament championship game, as I first reported here.
“I understand what’s at stake for me financially,” Haliburton said in January before his return. “But at the end of the day, I got to take care of my body to the best of my ability and put myself in the right situation. Yeah, I know I don’t have a ton of games left. I think it’s a stupid rule, like many guys in the league, but this is what the owners want. So as players we have to do our job and play in 65 games if we’re able to.”
Coincidentally, Paul George previously reached this threshold while playing for the Pacers. However, Mintz exchanged a lower percentage (27%) for a player option in the final year of PG’s extension.
Haliburton led the Pacers back to the playoffs this season — and past the first round for the first time in a decade. And he’s already been one of 12 players named to Team USA for the Paris Olympics.
“My biggest thing is I want to make this organization happy,” Haliburton said after signing the extension. “The Simon family and this organization obviously put a lot of trust in me by giving me this money, but I just want to make them proud. And make my family proud. That’s all I really care about. The way to do that is to win.
“Personally, I know I’m going to take care of what I have to take care of; I’m not concerned about that. My biggest goal as a team is I want to make the playoffs and I want to bring winning basketball back here.”
Haliburton, 24, was drafted 12th overall in 2020 by the Sacramento Kings.
“You hear people go crazy with compliments about a player before you even meet the guy,” head coach Rick Carlisle said last summer. “You hear all these great things and almost always, it’s a little overblown. In Tyrese’s case, it’s not overblown. It’s all true.
“The guy is a phenomenal person, he’s the ultimate team player and yet he now is an NBA max guy. But he is always going to do whatever is needed to empower the guys he plays with. He’s just very, very special.”
The Pacers trail the Celtics 1-0 in the conference finals with Game 2 to be played on Thursday at 8 p.m. in Boston.
Kudos to Haliburton for earning this honor. Once the season ends, I’d love to see you cover how the Pacers manage to the salary cap. Siakam needs to be resigned and Turner’s contract is up after next season. While the Pacers still have a number of players under their rookie deals, they won’t have as much flexibility.
Congratulations to Haliburton but I hope that extra $41M doesn't cost the team more than just money. It is very hard to develop and keep the rest of your team if 30% goes to 1 player and a 2nd player is also looking at a max contract. This team isn't as reliant on 1 or 2 players as everyone thinks.