Pascal Siakam intends to sign a four-year, $189.5 million contract to remain with the Indiana Pacers when the NBA's offseason moratorium is lifted in early July, a person with knowledge of the talks between the sides told The Associated Press on Wednesday.

The person spoke to the AP on condition of anonymity because neither the player nor the club may announce the agreement by league rule. ESPN, citing unnamed sources, was first to report that Siakam decided to remain with the Pacers.

Free agency does not begin until June 30, but this agreement was not in violation of any league rules. Under terms of the new collective bargaining agreement, teams could start speaking to their own free agents one day after the conclusion of the NBA Finals. And the Pacers were clear going into the offseason that retaining Siakam was a top priority, so it was no surprise that they wanted to begin official talks quickly.

“The first very important step is to begin recruiting Pascal Siakam in earnest,” Pacers coach Rick Carlisle said a few weeks ago, shortly after the Pacers' season ended. “That will start today with exit meetings. He’s a great player. He was tremendous for us."

Siakam — a two-time All-Star and part of the Toronto team that won the 2019 NBA title — would be in line to make about $42 million next season and around $53 million in 2027-28, the final year of the new deal.

The Pacers acquired the 30-year-old power forward in a January trade, and he quickly became a major part of the team that would reach the Eastern Conference finals before falling to eventual NBA champion Boston. Siakam shot 55% from the field and 38% from 3-point range in 41 regular-season games with Indiana this past season.

Counting his time in Toronto, Siakam averaged 21.7 points and 7.1 rebounds this past season. The Pacers will have him and guard Tyrese Haliburton — who is about to enter the start of a $245 million, five-year deal that was agreed upon last summer — as their franchise cornerstones going forward.

Carlisle said he still considered this past season to be Year 2 of a rebuild in Indiana, but he noted that the acquisitions of Siakam and Haliburton (who was traded to Indiana in February 2022) fast-tracked the plan.

“The fact that all these pieces fit well together put us in a strong position this year,” Carlisle said when the season ended.