Rick Carlisle has agreed to a multi-year extension with the Indiana Pacers, longtime NBA insider Marc Stein reported Tuesday. 

Carlisle, 65, led the Pacers to their first NBA Finals appearance since 2000, and their second all-time, this past season. In pursuit of their first-ever NBA championship, they fell to the 68-win Oklahoma City Thunder in seven games.

Still, Carlisle piloted one of the more unexpected and memorable playoff runs in recent league history. In his fourth year leading the franchise, Indiana won 50 games and earned the No. 4 seed in the Eastern Conference playoffs. A year removed from making a similar magical carpet ride to the Eastern Conference finals, the Pacers dazzled again and this time carried their mojo into June. 

Indiana knocked out the Milwaukee Bucks in five games, then ousted the conference's top-seeded Cleveland Cavaliers in five more. While both the Bucks and Cavaliers dealt with injury issues, the run-and-gun Pacers proved they belonged in the upper echelon of the East with a collection of dominant wins and a few others that went down to the wire, when star point guard Tyrese Haliburton came to life.

Haliburton made a habit of delivering clutch shots this past postseason, ushering in dramatic victories and rendering an anonymous player poll from earlier in the year completely obsolete. At the time, the two-time All-Star was voted the "most overrated" player in the league. 

He flushed that narrative once more in the Eastern Conference finals with a game-tying, buzzer-beating bucket to force overtime against the New York Knicks in the series opener, and then again in Game 1 of the NBA Finals thanks to a last-second, game-winning jumper that completed another comeback.

Indiana took care of the Knicks in six games, but Haliburton's Achilles tear early in Game 7 of the NBA Finals was a gut punch to Indiana's underdog effort.

The Pacers will be without Haliburton next season as he recovers from his devastating injury. They also won't have longtime center Myles Turner, who surprisingly signed with the Bucks in free agency. 

But Indiana will have plenty of other pieces from the 2024-25 team and Carlisle at the helm.

This story is being updated.