Pacers’ Siakam Trade Revisited: Raptors Gain Ground in Deal Analysis

Nearly a year after the Indiana Pacers acquired Pascal Siakam from the Toronto Raptors, the trade’s initial lopsided perception is shifting. Siakam, a key figure in the Pacers’ conference finals run last season, has seen a dip in performance this year, sparking debates over which team truly benefited from the deal.

Siakam, a two-time All-NBA selection, has been a solid contributor for the Pacers, averaging 17.8 points, 8.2 rebounds, and 4.0 assists over his last five games. However, his numbers are down compared to his peak years with the Raptors, where he was a primary offensive option. In Indiana, he has taken on a secondary role behind rising star Tyrese Haliburton, which has impacted his statistical output.

On the Raptors’ side, the trade is looking increasingly favorable. Toronto was set to lose Siakam in free agency, as he no longer fit their rebuilding timeline. By trading him, they secured valuable assets, including draft picks that turned into promising rookie Ja'Kobe Walter and contributed to acquiring Kelly Olynyk and Ochai Agbaji. Walter, a 20-year-old guard, has shown flashes of potential, averaging 8.3 points, 2.7 rebounds, and 1.5 assists in his rookie season.

“Siakam didn’t make sense in the Raptors’ longer-term plans, and moving him ahead of last year’s deadline eliminated the possibility of losing the two-time All-NBA selection for nothing in free agency,” wrote analyst Hughes in a recent re-grade of the trade. Hughes awarded the Pacers a B+ and the Raptors an A-, noting that Toronto maximized their return on a player they were destined to lose.

While the Pacers have no reason to regret the trade—Siakam remains under contract and has been instrumental in their success—the narrative of a clear-cut victory has faded. The Raptors’ ability to turn an impending loss into a promising future has shifted the momentum in their favor.

As the season progresses, both teams will continue to evaluate the trade’s long-term impact. For now, what once seemed like a decisive win for Indiana now appears to be a more balanced exchange, with Toronto emerging as a surprising beneficiary.