Pacers Sign D.J. Augustin

July 13 2012 at 10:46am CST By Luke Adams

FRIDAY, 10:46am: The Pacers have officially signed Augustin, the team announced in a press release.

THURSDAY, 3:44pm: The Pacers have reached an agreement with D.J. Augustin on a one-year contract, according to Mike Wells of the Indianapolis Star (via Twitter). The deal will pay Augustin $3.5MM, tweets Adrian Wojnarowski of Yahoo! Sports. The move not only comes on the heels of Augustin becoming an unrestricted free agent, but also a day after the Pacers agreed to send point guard Darren Collison to the Mavericks.

With new deals for George Hill and Roy Hibbert yet to become official, the Pacers still have a chunk of cap space to use on free agents, so the $3.5MM for Augustin will use a portion of that room. I'm a little surprised that the 24-year-old was only able to land a small one-year deal, but the contract will allow the Pacers to maintain cap flexibility going forward.

Augustin averaged 11.1 points and a career-high 6.4 assists in 29.3 minutes per game for the Bobcats in his fourth NBA season.

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