​NASSAU, BAHAMAS – JULY 06: Ethan Thompson of Puerto Rico drives to the basket during the FIBA Basketball World Cup 2027 Group B Americas Qualifiers game between Bahamas and Puerto Rico at Sir Kendal Isaacs Gymnasium on July 06, 2026 in Nassau, Bahamas. (Photo by Kevin Ortiz/FIBA via Getty Images)FIBA via Getty ImagesThe Indiana Pacers roster makes sense, at least on paper, as the end of July approaches. Their free agency moves, especially ones concerning standard contracts, could be finished for the 2026 offseason.But that is not definite. And that the Pacers still have their lone 2026 NBA Draft pick unsigned suggests their front office is still considering how to finalize the back end of its roster. Braden Smith, the Pacers selection with the 38th overall pick in June, is one of 11 draft picks as of this writing who has not yet signed a contract for the coming season.Only one player selected above Smith, the injured Richie Saunders of the Memphis Grizzlies (who will need to clear roster spots), has not yet inked a contract. Smith is in a unique spot, and the Pacers current salary cap reality appears to be a factor.After Quenton Jackson saw his contract become fully guaranteed for the Pacers earlier this month, the team has 14 players signed to fully-guaranteed deals. Their total team salary, plus incentives, is about $206.8 million. They are hard capped at the first salary cap apron after using the Non-Taxpayer Mid-Level Exception to sign Kelly Oubre early in free agency, so the Pacers’ total team salary plus incentives cannot cross $209.015 million for any reason during the 2026-27 campaign.The quick math: The Pacers are $2.23 million below the first apron. A veteran’s minimum contract – the lowest possible salary for a player with two-plus years of service signed during the offseason – comes with a cap hit of $2.45 million. Since that number is larger than Indiana’s first apron space, they are not able to add a player using a veteran’s minimum deal right now.Teams can carry 15 players on standard contracts in the regular season, so the Pacers do have one open roster spot. But they can currently only afford to add a player with zero or one years of service in that spot and can’t add a veteran until November 5 – after the season, and training camp, has started.Who could be in the mix for a contract with the Pacers?Smith has zero years of service, meaning he technically could sign a standard contract with the Pacers right now. His minimum salary could go as low as $1.27 million for the coming campaign. But the Pacers reportedly agreed to a two-way contract with Smith just after the draft, complicating matters.Plans can change, and the Pacers could alter course if it gives the team more options. That’s where things get more complicated. Since the start of the free agency period, Indiana has signed Jalen Slawson and Kobe Brown to two-way contracts, and teams are permitted to have up to three players under two-way pacts at the same