AUGUST 8: McDermott has joined the Spurs in a sign-and-trade deal, the Pacers announced in a press release.
Indiana got a future second-round pick in return, while San Antonio received McDermott, a future second-rounder and the option to swap second-round picks in a future draft. The Pacers also created a $7.3MM trade exception in the deal, equivalent to McDermott’s 2020/21 salary.
McDermott cashed in off a career year with Indiana in which he averaged 13.6 PPG, 3.3 RPG and 1.3 APG. He’s a career 40.7% 3-point shooter, though he’s more than just a perimeter threat. He averaged a career-high 10.1 shot attempts and made 53.2% of them in his walk year.
McDermott’s most recent contract, which he signed with Indiana in 2018, was a three-year deal worth $22MM.
Retaining McDermott at the number he agreed to with the Spurs would have added to the Pacers’ luxury tax concerns, though they were hoping to re-sign him.
The Pelicans, Suns, and Nuggets were among the teams that were rumored to be potential suitors for the 29-year-old McDermott. The Spurs had an edge over many other teams due to ample cap space, while many others could only offer their $9.536MM mid-level exception.
San Antonio could simply sign McDermott with its cap room or work out a sign-and-trade with Indiana.