INDIANAPOLIS — The Indiana Pacers did not waive point guard T.J. McConnell prior to June 28, and with the calendar now rolling to June 29, the veteran point guard has a fully guaranteed contract for the 2024-25 season.

McConnell, 32, signed a four-year, $33.6 million contract in August of 2021. The first three seasons of the agreement were fully guaranteed, but the fourth and final season only had $5 million out of $9.3 million guaranteed. In theory, had the Pacers waived McConnell before Friday ended, they could have saved $4.3 million.

But there was no sense in doing so. $4.3 million in savings is nothing compared to the value McConnell has on the hardwood — if anything he is underpaid at $9.3 million — and the Pacers are over the salary cap anyway. They would have gained little to no flexibility with the savings.

The veteran ball handler is one of the best reserve guards in the league and just averaged career-best numbers across the board. “Getting this franchise back into the playoffs and making a run to the Eastern Conference Finals when not a single person had us going there, it was really fun,” McConnell said of his 2023-24 season.

He averaged 10.2 points and 5.5 assists per game this past year. His scoring down the stretch of the campaign and in the playoffs was remarkable as he did everything for the second unit. Indiana needed McConnell to step up in the scoring department once Bennedict Mathurin went down with an injury, and he did.

“I don’t know, I try not to focus on stuff like that,” McConnell said of having a career year at his age. “Just the team success, really just getting back to the playoffs. That was the goal for us. Just tried to contribute in any way I could.”

The nine-year veteran was never going to be waived. It would have been incredibly misguided for Indiana to do so, but now it’s official. His contract is fully guaranteed for the coming season, and the veteran guard currently projects to be the backup floor general to open the upcoming season.

The more interesting question with McConnell’s contract is about a possible extension. Reporting has suggested that the Pacers would like to add years on to McConnell’s deal this summer, and he is eligible for a longer contract starting on July 6.

Indiana could add up to four years and up to about $80 million to McConnell’s contract this offseason if they are so inclined. “To have him here long term, we’d love to keep T.J. as a Pacer for life. The business part eventually comes into play for everybody, but would hate to lose that guy,” Pacers general manager Chad Buchanan said of McConnell late last month.

“His value to us is obviously very, very high,” the GM added. McConnell averaged 11.8 points and 5.1 assists per game in the playoffs.

McConnell, a Pittsburgh native, has been a key veteran for the Pacers ever since he joined the franchise. His fierce mentality after going undrafted in 2015 has never faded, and it makes him the competitor that he is. If Indiana wants to keep playing their up-tempo style that is possible because of star guard Tyrese Haliburton, keeping McConnell as a high-paced backup makes all the sense in the world. As of right now, they have him under contract for one more season.