Pacers Shock Thunder In NBA Finals Rematch Upset

Friday night at the Paycom Center in Oklahoma City was supposed to be a routine affair for the league-leading Thunder. The Indiana Pacers, battered by injuries and mired at the bottom of the Eastern Conference, rolled into town as 16.5-point underdogs. But in a stunning turn of events, the Pacers pulled off the NBA season’s biggest upset, toppling the Thunder 117-114 in a rematch of last year’s NBA Finals.

For the Pacers, this game was about more than just snapping a three-game losing streak. It was about resilience, adaptation, and a few breakout performances that nobody saw coming—not least the Thunder faithful, who watched their team’s 37-8 record take a rare hit. The Pacers, now 11-35, are still rooted to the bottom of the standings, but for one night, they looked every bit the giant slayers.

Let’s set the scene. The last time Indiana visited the Paycom Center, it was Game 7 of the 2025 NBA Finals—a night that ended with heartbreak for the Pacers and a championship for Oklahoma City. Since then, the Pacers’ fortunes have taken a nosedive, thanks in part to the season-ending Achilles injury suffered by star guard Tyrese Haliburton in that very game. With Haliburton, Bennedict Mathurin, and Obi Toppin all sidelined, Indiana’s prospects looked bleak.

The Thunder, meanwhile, have hardly missed a beat despite their own rash of injuries. Missing key contributors like Jalen Williams, Isaiah Hartenstein, Alex Caruso, Ajay Mitchell, and Aaron Wiggins, Oklahoma City still boasted the league’s best record and a deep, versatile roster led by Shai Gilgeous-Alexander and rookie sensation Chet Holmgren.

But basketball, as the saying goes, isn’t played on paper. The Pacers came out firing, deploying a smaller, quicker starting lineup that caught the Thunder off guard. With Pascal Siakam slotted in as a makeshift center alongside wings Aaron Nesmith, Jarace Walker, Johnny Furphy, and point guard Andrew Nembhard, Indiana embraced the chaos and pushed the pace from the opening tip.

The results were immediate. Indiana made 7 of its first 9 shots, racing out to a 39-28 lead after the first quarter—matching their highest-scoring opening period of the season. The Pacers shot a blistering 16-of-30 from the field and 6-of-11 from three-point range in that frame, and suddenly, the Thunder were on the back foot in their own building.

“We just wanted to play fast, make them uncomfortable, and trust each other,” said Pacers coach Rick Carlisle after the game, his voice barely masking his excitement. “With so many guys out, everyone had to step up. And boy, did they ever.”

Step up they did. Andrew Nembhard orchestrated the offense with poise and aggression, finishing with 27 points and 11 assists. Jarace Walker, promoted to the starting lineup as part of the Pacers’ small-ball experiment, delivered a career-high 26 points on 8-of-15 shooting, including 3-of-6 from deep and 7-of-11 from the line. He also grabbed four rebounds, dished three assists, and snagged two steals, including several key defensive stops down the stretch.

Walker’s impact was felt throughout. “He played with a level of force that made sure coach didn’t regret putting him out there,” said Carlisle. “He drove hard to the rim, scored through contact, and hit big free throws late. That’s what we need from him.”

Pascal Siakam, the Pacers’ veteran leader, chipped in 21 points while anchoring the defense as an undersized center. Aaron Nesmith, who’d been mired in a prolonged shooting slump, broke out in style—hitting 3-of-5 from beyond the arc and finishing with 17 points, five rebounds, and five assists. Even Johnny Furphy, who scored just four points, contributed with 10 rebounds and relentless energy on both ends.

Off the bench, center Micah Potter made his minutes count, tallying 10 points and 10 rebounds and providing some much-needed size when the Pacers needed it most. All told, it was a true team effort—every Pacers starter contributed in a meaningful way, and the bench held its own against the Thunder’s reserves.

For Oklahoma City, the night belonged to Shai Gilgeous-Alexander. The All-Star guard poured in a game-high 47 points, single-handedly keeping the Thunder in striking distance. Chet Holmgren added 26 points and 13 rebounds, showcasing the skills that have made him one of the league’s most exciting young big men. But despite their heroics, the Thunder just couldn’t get over the hump.

Every time Oklahoma City mounted a run, the Pacers responded. The Thunder trimmed a double-digit deficit to just five at halftime, thanks to a 14-2 spurt fueled by Gilgeous-Alexander and Holmgren. But Indiana never wavered, matching the Thunder’s intensity and execution at every turn.

The game’s final moments were as tense as they come. With Indiana clinging to a three-point lead in the closing seconds, Isaiah Joe—a reliable outside shooter for the Thunder—missed a potential game-tying three-pointer. The Pacers corralled the rebound, and the upset was complete.

“We knew they’d make a run. That’s what great teams do,” said Nembhard. “But we stayed together, trusted the game plan, and made plays when it mattered.”

The loss drops Oklahoma City to 37-9, still the NBA’s best record, but a reminder that even the top teams aren’t invincible. For the Pacers, it’s a much-needed morale boost and a testament to the value of grit, adaptability, and belief—qualities that can’t be measured by win-loss records alone.

The Thunder won’t have much time to dwell on the defeat. They’ll host the Toronto Raptors on January 25, looking to get back on track and reinforce their position atop the standings. For Indiana, the hope is that this improbable win can serve as a turning point in a difficult season.

As the final buzzer sounded and the Pacers celebrated at center court, one thing was clear: on this night, the underdogs had their day. And in the unpredictable world of the NBA, that’s what keeps fans coming back for more.