NBA Awards Rankings: New No. 1 in MVP race

Tyrese Haliburton was No. 1 in our MVP rankings a couple weeks ago, but this precipitous fall isn't actually as far as it looks on the surface. Haliburton is still very much in the mix, held back mostly by limited team success — Indiana has lost five of its last six — and the infamtesimal splitting of hairs. He's the worst defender listed here, on the worst team. That factors into the equation.

Still, we cannot overstate how brilliant Haliburton's offense has been. His shooting percentages are regressing to the mean. He hasn't shot 50 percent from the field in four games, and his 7-of-19 performance in the Pacers' loss to Memphis on Thursday, including 2-of-12 from 3-point range, was a real statistical downer. That shouldn't overshadow the overall production — 24.3 points and 12.0 assists on .498/.409/.867 splits for the NBA's No. 1 offense.

Haliburton has ascended to the rank of NBA's best facilitator. He's always five steps ahead of the defense, speed-reading the floor and averaging only 2.8 turnovers per game, despite his heavy workload. Haliburton's 26.6 percent usage rate pales in comparison to the standard MVP candidate, but he's initiating sets and firmly at the center of Indiana's game plan. He's the unique point guard who doesn't have to pound the ball into the earth to create advantages and locate fissures in the defense. Haliburton is the master of the hit-ahead pass in transition. In the halfcourt, he's great at swift, decisive decisions that encourage ball movement and balance.

The Pacers' defense might hold them back (and subsequently keep Haliburton's MVP case at bay), but Rick Carlisle has figured out how to maximize the offense. If the Pacers can swing the right midseason trade, we could see Indiana making noise in the postseason.