Pacers’ Last Laugh: How the Aaron Nesmith Trade Outshone the Celtics’ Calculations

The 2022 trade between the Indiana Pacers and Boston Celtics, centered around Malcolm Brogdon and Aaron Nesmith, has become a defining moment in both franchises’ recent histories. In July 2022, the Pacers sent Brogdon to Boston in exchange for Nesmith, Daniel Theis, three salary fillers (Nik Stauskas, Malik Fitts, Juwan Morgan), and a 2023 first-round draft pick. Initially viewed as a coup for the Celtics, who acquired the 2023 Sixth Man of the Year, the deal has tilted decisively in Indiana’s favor. As veteran journalist Bob Ryan noted in a September 2025 IndyStar column, “The Pacers unquestionably got the last laugh,” with Nesmith emerging as a cornerstone and Brogdon struggling to secure an NBA roster spot. This article delves into the trade’s details, Nesmith’s ascent, Brogdon’s decline, the Pacers’ resurgence, and why Celtics fans are left lamenting a missed opportunity.

The Trade: A Breakdown of the 2022 Deal

On July 1, 2022, the Celtics and Pacers executed a blockbuster trade, as reported by Bleacher Report. Boston received Malcolm Brogdon, a versatile guard coming off a 19.1-point, 5.1-rebound, 5.9-assist season with Indiana in 2021-22. In return, the Pacers acquired Aaron Nesmith, a 2020 first-round pick (14th overall), Daniel Theis, a reliable backup center, three salary fillers (Stauskas, Fitts, Morgan), and a 2023 first-round pick (29th overall, later used in a future trade). At the time, the trade was widely praised for Boston, with Bleacher Report tweeting, “What the Celtics gave up for Brogdon,” implying a steal for minimal assets.

For the Pacers, the deal was a calculated risk. Rebuilding after a 25-57 season, Indiana saw potential in Nesmith, a 6-foot-5 wing whose athleticism and shooting showed promise despite limited minutes in Boston. Theis provided frontcourt depth, while the draft pick and fillers offered flexibility. As IndyStar later noted, “Indy long believed in Nesmith’s talent and saw a chance to land him,” with the additional assets serving as “the cherry on the sundae.”

Aaron Nesmith’s Breakout with the Pacers

Aaron Nesmith, drafted out of Vanderbilt in 2020, struggled to find a role in Boston’s crowded wing rotation, averaging 4.4 points in 11.5 minutes over 95 games across two seasons. Traded to Indiana, he blossomed into a key contributor. In 2022-23, his first season with the Pacers, Nesmith averaged 10.1 points, 3.8 rebounds, and 1.3 assists on 42.7% three-point shooting in 73 games (60 starts). His breakout came in 2023-24, earning him a three-year, $33 million extension in October 2023, per Sportskeeda. Nesmith averaged 12.2 points, 3.8 rebounds, and 0.9 steals, shooting 49.6% from the field and 41.9% from three, ranking 14th in Most Improved Player voting.

In the 2024-25 season, Nesmith’s playoff performance solidified his value. Averaging 15.7 points and shooting 8-for-9 from three in Game 1 of the Eastern Conference Finals against the Knicks, Nesmith propelled Indiana to their second straight conference finals, per FanSided. His 21-point average in the first two games of the 2025 ECF showcased his growth as a two-way wing. Hardwood Houdini noted, “Nesmith has blossomed with the Pacers, thriving after the opportunity afforded by a change of scenery,” highlighting his role in Indiana’s return to contention.

Malcolm Brogdon’s Decline and Departure

Malcolm Brogdon’s tenure in Boston was a tale of short-term success and long-term disappointment. In 2022-23, he excelled as a sixth man, averaging 14.9 points, 4.2 rebounds, and 3.7 assists on 48.4% shooting, earning the 2023 Sixth Man of the Year award. However, an arm injury limited his playoff impact, and Boston’s Eastern Conference Finals loss to Miami in 2023 prompted a roster shakeup. In June 2023, the Celtics traded Brogdon, Robert Williams III, and two first-round picks to Portland for Jrue Holiday, per Hardwood Houdini. Holiday’s defensive prowess and playmaking were instrumental in Boston’s 2024 championship, justifying the move but leaving Brogdon’s stint as a one-year footnote.

Brogdon’s time in Portland was marred by injuries, playing only 63 games over two seasons (2023-25), per Sportskeeda. His 2024-25 season was particularly dismal, with recurring elbow issues limiting him to 39 games and 12.7 points on 41.2% shooting. As of September 2025, Brogdon remains unsigned, with ClutchPoints reporting that his injury history and a federal betting investigation have cooled his market. The contrast between Nesmith’s ascent and Brogdon’s struggles underscores Indiana’s victory in the trade.

The Pacers’ Resurgence and Trade Impact

The 2022 trade was a catalyst for Indiana’s rapid rebuild. Under coach Rick Carlisle, the Pacers transformed from a 25-57 team in 2021-22 to a 47-35 playoff contender in 2023-24, reaching the Eastern Conference Finals. Nesmith’s emergence as a starting wing, alongside Tyrese Haliburton and Pascal Siakam, gave Indiana a dynamic, high-octane offense, ranking third in points per game (120.5) in 2024-25, per Basketball-Reference. The 2023 first-round pick from Boston was later flipped in a 2024 trade to acquire draft capital, further bolstering Indy’s roster flexibility, per IndyStar.

Daniel Theis, another piece of the trade, provided solid minutes in 2022-23 (7.0 points, 4.1 rebounds in 47 games) before being traded to the Clippers in 2023. The salary fillers—Stauskas, Fitts, and Morgan—were waived or moved, serving their purpose as cap relief. The trade’s long-term value lies in Nesmith’s growth and the draft pick’s utility, positioning Indiana as a contender while Boston grapples with regret over losing a versatile wing.

Celtics’ Regret and Missed Opportunity

For Boston, the trade initially seemed a masterstroke. Brogdon’s 2022-23 season helped the Celtics finish 57-25, and his trade for Holiday fueled their 2024 title run. However, Nesmith’s emergence as a two-way star has sparked second-guessing. MassLive reported in May 2025 that Nesmith’s playoff performances against the Knicks “had Celtics fans criticizing the front office for ever letting him go.” With Jayson Tatum sidelined for 2025-26 due to a torn Achilles and Holiday traded to Orlando, Nesmith’s 3-and-D skill set would have been ideal alongside Jaylen Brown and Derrick White.

FanSided argued, “Boston mishandled Nesmith’s development,” noting that his limited minutes behind Brown and Tatum stifled his growth. In Indiana, Nesmith benefited from a larger role and Carlisle’s system, which emphasized his shooting and defensive versatility. The Celtics’ 2025 roster, with additions like Davion Mitchell and Norman Powell, lacks a young, cost-controlled wing like Nesmith, whose $11 million annual salary is a bargain compared to Brogdon’s $22.5 million in 2022-23.

Nesmith’s Emotional Response and Vindication

Nesmith’s journey from a Boston bench player to an Indiana cornerstone carries personal weight. In October 2023, he responded to a 2022 Bleacher Report post that downplayed his trade value, sarcastically noting on Instagram, “S–t aged well ain’t it,” per Heavy.com. His father, William Nesmith, told ClutchPoints that Aaron was “blindsided” and “disappointed” by the trade, having enjoyed playing for Boston. The emotional toll fueled Nesmith’s motivation, as evidenced by his career-high 26 points against Cleveland on October 28, 2023, shortly after his extension.

Nesmith’s playoff heroics—8-for-9 from three in Game 1 against the Knicks in 2025—proved his worth, with Sportskeeda noting his 15.7-point playoff average. His development into a 41.9% three-point shooter and tenacious defender has made him indispensable, contrasting with Boston’s loss of a player who could have filled a critical role.

Broader Implications for Both Franchises

For the Pacers, the trade exemplifies their rebuilding strategy: acquiring young talent with upside and leveraging assets for future flexibility. Nesmith’s extension and the draft pick’s value have solidified Indiana as an Eastern Conference contender, with a 2025-26 projected starting lineup of Haliburton, Nesmith, Andrew Nembhard, Siakam, and Myles Turner. Their 2-0 start in the 2025 ECF against the Knicks, per FanSided, underscores their upward trajectory.

For the Celtics, the trade’s long-term cost is evident. While Holiday’s 2024 contributions were pivotal, Nesmith’s youth (26 in 2025) and cost-effectiveness make his departure a missed opportunity. Boston’s 2025-26 roster, rebuilding around Brown and White, faces challenges without Tatum, and Nesmith’s two-way play could have stabilized their wing rotation. Archyde noted, “The evolving role of playing time and its impact on Nesmith’s development highlights why Boston had to part ways,” but the regret lingers.

Fan and Media Reactions

The trade’s outcome has sparked lively debate on X. @PacersPride posted, “Nesmith trade still has us laughing  Indy fleeced Boston!” while @CelticsFanatic lamented, “Nesmith would’ve been perfect next to JB. Why’d we let him go? ” ClutchPoints reported, “Pacers youngster Aaron Nesmith had something to say about his Celtics trade after scoring a career-high 26 points,” capturing his vindication. IndyStar echoed Ryan’s sentiment, stating, “The Pacers unquestionably got the last laugh,” while CelticsBlog admitted, “Nesmith’s growth stings for Boston fans.”

The 2022 trade sending Aaron Nesmith to the Indiana Pacers for Malcolm Brogdon has proven a masterstroke for Indy, as Nesmith has emerged as a cornerstone while Brogdon faces an uncertain NBA future. Nesmith’s 15.7-point playoff average, 41.9% three-point shooting, and defensive tenacity have fueled Indiana’s resurgence, with the 2023 draft pick adding flexibility. Boston, despite benefiting from Brogdon’s Sixth Man award and Holiday’s 2024 title contribution, regrets losing Nesmith, whose two-way play would fit their retooling roster. Bob Ryan’s assertion that “the Pacers unquestionably got the last laugh” resonates, as Nesmith’s vindication and Indiana’s contention highlight a trade that continues to haunt Celtics fans.