The deal could rise to $80 million if Turner meets a series of incentive clauses, sources said.
I BLEED BLUE AND GOLD! I LOVE YALL INDY! COULDNT HAVE DONE THIS WITHOUT YALL!!!— Myles Turner (@Original_Turner) October 15, 2018
"I'd like to thank the Simon family and the Pacers organization for giving me this opportunity," Turner said in a team news release announcing the multiyear deal. "It took a lot of hard work to get here and I didn't do it on my own; I'd like to thank my family, as well as my teammates, past and present, and the coaching staff for helping me get to this point. I'm excited to build here in Indiana and I'm looking forward to the future."
Turner, 22, has developed into a cornerstone of the Pacers' future along with All-Star guard Victor Oladipo.
"Myles has been great here, not only on the court; but he represents this organization unbelievably off the court as well," said Pacers president of basketball operations Kevin Pritchard. "His hard work and dedication to both his game and to our franchise exemplify what it means to be a Pacer. We're thrilled to have him here long term."
Turner was eligible for his rookie extension as part of the NBA's draft class of 2015 and faced a Monday afternoon deadline to complete an extension. Without an extension, those players can enter restricted free agency on July 1. Current teams can match offer sheets and retain restricted free agents.
Turner has averaged 12.7 points, 6.5 rebounds and 1.8 blocks in his three seasons as a starter with Indiana. His ability to step out and shoot the 3-pointer makes him an even more dangerous weapon in the modern NBA game.
Turner was the 11th overall pick in the 2015 NBA draft out of Texas, where he left after his freshman year.