The end of an era has occurred in Toronto, as the Raptors traded two-time All-NBA forward and 2019 NBA champion Pascal Siakam to the Indiana Pacers on Wednesday.

Shams Charania of The Athletic and Stadium reported the Raptors waived Christian Koloko to complete the deal.

ESPN's Adrian Wojnarowski, who initially broke the news of the trade, reported additional details on the 2024 draft picks that Toronto will receive:

ESPN's Bobby Marks posted more information on the trade:

Wojnarowski reported Siakam "is excited about the deal to the Pacers and expected to be eager to work out a new contract with the franchise this summer."

The Raptors have been floundering this season after finishing at or above .500 in nine of the past 10 campaigns. Toronto already made one big deal, sending OG Anunoby, Malachi Flynn and Precious Achiuwa to the New York Knicks for RJ Barrett, Immanuel Quickley and a 2024 second-round draft pick.

That move only led to more Raptors trade rumors, with the impending free agent in Siakam as a centerpiece.

Yahoo Sports' Jake Fischer reported on Jan. 5 that "chatter among NBA executives surrounding Siakam's potential landing spots has now centered on" the Pacers, Detroit Pistons, Pacers and Sacramento Kings.

Charania reported on the same day that the Raps were "ramping up talks" on Siakam. He later added that the Kings had removed themselves from those discussions.

So it isn't a surprise that Siakam is finally gone, although it's a very tough loss for the franchise given his incredible career and legacy.

Toronto has been home for Siakam since he entered the NBA in 2016 as a rookie out of New Mexico State. Two years later, he became an integral part of the team's first-ever championship season, posting 16.9 points and 6.9 rebounds as a full-time starter.

The Cameroon-born player eventually became the team's No. 1 star after Kawhi Leonard and Kyle Lowry left in free agency. He enjoyed great success in Toronto in recent years, making the All-Star team in 2019-20 and 2022-23.

Siakam signed a four-year, $136.9 million contract to stay in town. That deal ends in 2024.

And now Siakam's time in Toronto is over. A new chapter in Indiana has begun, though. That's a big win for the team with Siakam still in his prime and showcasing his abilities as a productive scorer and rebounder on a nightly basis.

Siakam heads to the Pacers, who haven't won a playoff game since 2018 or made the postseason at all since 2020.

Indiana has gone in the wrong direction since the end of the Paul George era, but the team has some hope now with All-Star Tyrese Haliburton running the show. He'll be aboard long term after inking a five-year, $260 million contract.

But the Pacers could use another star alongside Haliburton to ease the scoring and usage burdens on a nightly basis. Enter Siakam, who could be a great fit in Indiana as the team looks to get back to the playoffs following a 35-47 season.