NEW YORK, NEW YORK - DECEMBER 07: Justin Holiday #8 of the Indiana Pacers in action against the New ... [+] York Knicks at Madison Square Garden on December 07, 2019 in New York City. Indiana Pacers defeated the New York Knicks 104-103. (Photo by Mike Stobe/Getty Images)
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NEW YORK, NEW YORK - DECEMBER 07: Justin Holiday #8 of the Indiana Pacers in action against the New ... [+] York Knicks at Madison Square Garden on December 07, 2019 in New York City. Indiana Pacers defeated the New York Knicks 104-103. (Photo by Mike Stobe/Getty Images)Getty Images
The Indiana Pacers made their first important move of free agency by re-signing forward Justin Holiday to a three-year, $18 million contract, according to many reports.
Holiday, 31, was the most valuable player who entered free agency from the Pacers 2019-20 roster. He was a key rotation player all season long who proved his value as a three-and-D wing, which is a critical player archetype in the modern NBA.
That is why the Pacers set out to get a deal done with Holiday quickly. They wanted to retain the seven-year veteran to make sure he is a part of the team's rotation for three more seasons.
The deal cannot be officially signed until Sunday, November 22 at 12:01 p.m. eastern time.
He's the glue to the team, former Pacers Head Coach Nate McMillan said of Holiday. He's been the glue [since] I would say starting mid-season when we had so many injuries. He's had to do a number of [different] things.
Holiday's contract will likely start at around $5.7 million in year one and raise by five percent of that amount each season. Reports suggest Indiana is using non-Bird rights to keep Holiday; if they are, the team could use their mid-level exception to add another player in a future transaction.
This move puts Indiana about $38,000 under the luxury tax line, which suggests another move is coming in the future to make that distance larger. It could be a...