[3] Indiana had the first seed in the Eastern Conference, and the best record in the league, led by Reggie Miller, Jermaine O'Neal, Ron Artest, and Al Harrington.

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.

[6] Prior to the 2011–12 season, the Heat created a Superteam with a new "Big Three" consisting of LeBron James, Dwyane Wade, and Chris Bosh.

[9] In addition to their preexisting core of Mario Chalmers, Udonis Haslem, Mike Miller, Juwan Howard, Joel Anthony, and former Pacer James Jones, the Heat acquired veterans Shane Battier, Eddy Curry and Ronny Turiaf.

[21] The Pacers also had two emerging stars in Paul George and Lance Stephenson from the absence of Danny Granger due to a season–ending injury.

[27] Wade received a retroactive flagrant foul for hitting Stephenson in the head, another incident that the Pacers, notably Paul George, felt was a dirty play.

Indiana entered the series with home court advantage, earning the first seed in the Eastern Conference, with a 56–26 record during the 2013–14 season.

Likewise, Miami's key players again consisted of LeBron James, Dwyane Wade, Chris Bosh, Ray Allen, Mario Chalmers, as well as newcomers Greg Oden and Michael Beasley.

The Heat were led by Jimmy Butler, Bam Adebayo, Goran Dragic, and Tyler Herro, who ended up reaching the 2020 NBA Finals.

Indiana sustained significant injuries preventing All–Star Domantas Sabonis and Jeremy Lamb from playing in the 2020 NBA Bubble.