While Yahoo!'s Adrian Wojnarowski says the deal is off, two local reporters closer to the situation -- the Toronto Star's Doug Smith and the Indianapolis Star's Mike Wells -- indicate talks remain alive in a swap which would send T.J. Ford and Rasho Nesterovic to the Pacers in exchange for Jermaine O'Neal. Two beats one, so let's assume this could happen.

Dwyer at Ball Don't Lie explains why this is such a good deal for Toronto, which needs some defense badly. So let me explain my thoughts on why this works beautifully for Indiana, with an assist from Indy Cornrows, who writes:

Forget all the numbers, cap space, draft picks and expiring contracts for a moment. A deal like this has an aesthetic impact on the Pacers that is hard to quantify. When the two strongest personalities in the organization don't get along, it's a drag on everyone, fans included. I love Jermaine O'Neal and I love Larry Bird, but when it's apparent they don't get along you're almost forced to pick a side. It becomes an unmentionable black cloud hanging over the team and has to have at least a subtle impact on the team.

Sometimes, these clean breaks cause ephemeral periods of holy enlightenment for Earthbound teams weighed down by an old general. Remember Philadelphia? The post-Iverson burst had little to do with reality; in retrospect, I'd venture the mere removal of the long franchise shadow allowed the rest of the team to see the sun for the first time. While the terminal glow can't support itself, it can support future growth, as it has in Philly.

Also: Indiana really needs a point guard. The Pacers already play at a high tempo; Ford's one of the most efficient high-tempo lead guards in the league. And if you're worried about injury risk, um, you're trading Jermaine O'Neal, who played 42 games for the low, low price of $19.7 million last year. Considering Rasho has an expiring contract, and Ford's deal is not too long, this baby needs no more thought.