The two franchises first met in the 2004 NBA playoffs, when Indiana won 4–2 in the Eastern Conference Semifinals. Indiana was seen as title contenders, having the 1st seed in the Eastern Conference, and the best record in the league, led by Reggie Miller, Jermaine O'Neal, Ron Artest, and Al Harrington. The Heat were led by rookie Dwyane Wade, Lamar Odom, Eddie Jones, and Caron Butler, with this being Wade's first ever playoff experience. The Pacers would go on to lose in 6 games in the Eastern Conference Finals to the eventual 2004 NBA Champion Detroit Pistons. Following the 2003–04 NBA season, and before meeting again in 2012, Indiana remained competitive in the Eastern Conference, while Miami would win their first ever championship in 2006 after acquiring Shaquille O'Neal.
The two franchises first met in the 2004 NBA playoffs, when Indiana won 4–2 in the Eastern Conference Semifinals. Indiana was seen as title contenders, having the 1st seed in the Eastern Conference, and the best record in the league, led by Reggie Miller, Jermaine O'Neal, Ron Artest and Al Harrington. The Heat were led by rookie Dwyane Wade, Lamar Odom, Eddie Jones, and Caron Butler, with this being Wade's first ever playoff experience. The Pacers would go on to lose in 6 games in the Eastern Conference Finals to the eventual 2004 NBA Champion Detroit Pistons. Following the 2003–04 NBA season, and before meeting again in 2012, Indiana remained competitive in the Eastern Conference, while Miami would win their first ever championship in 2006 after acquiring Shaquille O'Neal.