Tyrese Haliburton makes third-team All-NBA which means a $40+million raise over five years

BOSTON -- Pacers two-time All-Star point guard Tyrese Haliburton was named third-team All-NBA on Wednesday, earning him All-NBA honors for the first time and maximizing the value of the five-year max contract extension he signed in July.

As is the case with all max contract extensions for players coming off of their rookie deal, Haliburton was guaranteed to be paid 25% of the annual salary cap for five seasons starting in 2024-25, but he could make 30% of the cap if he was named MVP, All-NBA or Defensive Player of the Year in the last season of his four-year rookie deal. That dollar figure obviously changes year to year based on the league revenue figures that determine the salary cap and could change significantly based on the NBA’s upcoming media rights deals. However, it was estimated at the time of his signing that at 25% of the cap, Haliburton would make around $206 million over five years, but would make close to $260 million at 30%. Estimates on Wednesday from ESPN's Bobby Marks and Spotrac's Keith Smith had the figure closer to $245 million, but regardless, the pay raise is major.

Haliburton was asked Wednesday between Games 1 and 2 of the Eastern Conference finals what making the team would mean to him.

"We know the financial benefit for me," Haliburton said. "I think just the fruits of my labor, it would be cool to see that appreciation shown in my game. But we're here in the playoffs. Honestly, if it happens, cool, if not, it is what it is. We move on. I want to win. I've said that all year."

In his fourth season in the league, Haliburton averaged 20.1 points per game and led the NBA with with 10.9 assists per game, recording 752 total assists to break the previous single-season franchise record held by Mark Jackson. His efficiency numbers were down just slightly from the year prior thanks to several injuries including a hamstring strain that cost him 10 games as well as increased defensive attention, but he still shot 47.7% from the floor and 36.4% from 3-point range, ranking 26th in the NBA in total 3-pointers with 195.

Haliburton led the Pacers to a berth in the In-Season Tournament finals, a 47-25 record and a playoff berth for the first time since 2020 after two years in which they missed the postseason entirely with a combined record of 60-104. They beat the Bucks in the first round to claim their first playoff series since 2014, then downed the Knicks in seven games to reach the Eastern Conference finals against the No. 1 seed Celtics, also reaching that round for the first time since 2014. They fell behind 1-0 in the series with an overtime loss at TD Garden on Tuesday.

Haliburton becomes the first Pacer since Victor Oladipo to be named All-NBA. The former IU star was a third-team pick in 2017-18. Reggie Miller, Paul George and Jermaine O’Neal were three-time All-NBA selections. O’Neal is the only Pacers player to ever be named second-team All-NBA, earning the honor in 2004, and no Pacers player has ever been named to the first-team.

Haliburton finished 14th in the balloting of the 15 players who made the team. He got two votes to make the second team and 69 to make the third team for 75 total points. Phoenix's Devin Booker got the last spot with 70 votes. Boston's Jaylen Brown finished 16th, just missing out on the team with 50 points.

Haliburton and Booker were joined on the third team by the Lakers' LeBron James, Golden State's Stephen Curry and former Pacer Domantas Sabonis, for whom Haliburton was acquired in a trade with the Kings.

MVP Nikola Jokic, Dallas' Luka Doncic, Oklahoma City's Shai Gilgeous-Alexander, Milwaukee's Giannis Antetokounmpo and Boston's Jayson Tatum were named to the first team. New York's Jalen Brunson, Minnesota's Anthony Edwards, Phoenix's Kevin Durant, the Clippers Kawhi Leonard and the Lakers' Anthony Davis were named to the second team.

This article originally appeared on Indianapolis Star: Tyrese Haliburton makes third-team All-NBA team maximizing contract