As the Indiana Pacers and Toronto Raptors proceed along remarkably different paths, it's become abundantly clear that the Pascal Siakam trade was as lopsided as they come. Toronto did well by Siakam to send him to a team with grand ambitions, but the evolution of the outside narrative has been a sight to behold.
Previously deemed something of an underwhelming move by a Pacers team that most wrote off as a non-factor, Siakam has transformed Indiana into a true contender—while Toronto is still searching for answers.
Indiana acquired Siakam and a future second-round draft pick via the New Orleans Pelicans in what will now go down as one of the most important trades in franchise history. In return, Toronto received Bruce Brown, Kira Lewis, Jordan Nwora, a 2024 first-round draft pick, a 2024 pick swap, and a conditional 2026 selection.
Masai Ujiri deserves credit for the work he's done with the assets acquired, but Indiana has a clear case for being the decisive victors of this trade.
Ujiri included Lewis in a trade for promising up-and-comer Ochai Agbaji, and turned in a solid effort at the 2024 NBA Draft with Jonathan Mogbo, Jamal Shead, and Ja'Kobe Walter. He also shipped out Brown and the Pacers' 2026 pick in a deal for Brandon Ingram.
With Ingram still waiting to make his Raptors debut and Siakam flirting with a second career championship, however, the big winner has been revealed.
Pascal Siakam trade has turned Pacers into true contenders
When the Pacers acquired Siakam on Jan. 17, 2024, they were 23-17 and trending toward a bout with mediocrity. Since he joined the team, however, they've made back-to-back Conference Finals appearances and won 50 games in a single season for the first time in 11 years.
It's been as transformative a move as any in recent memory, as Siakam has functionally operated as the proverbial missing piece in Indiana.
Siakam has elevated the Pacers with the same traits Raptors fans grew to love: A selfless mentality, a well-rounded offensive skill set, and a knack for stepping up in the clutch. Throughout his time in Indiana, he's known exactly when to step up and just when to step aside.
That's never been more evident than during the 2025 Eastern Conference Finals, as the Pacers have progressed toward victory at the pace Siakam has enabled them to.
Indiana won Game 1 behind 31 points from Tyrese Haliburton and 30 from Aaron Nesmith. Siakam was as important as anyone, however, dropping 17 points and six assists, including assists on two crucial Nesmith threes with less than a minute remaining in regulation.
Knowing that Indiana needed more from him offensively to win again, Siakam casually dropped 39 points in a Game 2 victory—and quickly followed it with another 30 in a Game 4 win.
In turn, Indiana improved to 5-1 when Siakam scores at least 20 points and 7-1 when he attempts a minimum of 15 shots this postseason. Moreover, his performances acted as further reassurance that the Pacers can rely on the three-time All-Star for timely contributions on a massive stage.
Toronto may still turn Ujiri's maneuvering into something of susbstance, but as the Pacers readily compete for a championship and make back-to-back Conference Finals, the bar has been set almost impossibly high for this trade to even out.
At this stage, it's difficult to view the Siakam move as anything less than a one-sided fleecing.