Jarrett Jack told the Indianapolis Star on Sunday night that the Pacers aren't going to match the offer sheet he signed with the Raptors.

Jack signed a four-year, $20 million offer sheet with Toronto last Monday.

"It took a minute, but I was able to secure a contract for four years," Jack told the Indy Star. "I'm looking forward to playing with Chris (Bosh) again. It will be like our freshman year (at Georgia Tech) all over again."

The Pacers had until Monday to officially make a decision on whether or not to match the offer. The move isn't surprising, because matching the offer would have put Indiana over the NBA's $69.9 million luxury tax threshold.

"I wanted to be a Pacer come next season," Jack said. "I'm indebted to coach (Jim) O'Brien for what he did for me last season. Not only him, but also (team president) Larry Bird and (general manager) David Morway. They put me in the position to play well and get a long-term contract. I'll always be indebted to them."