FRIDAY, 2:17pm: The deal is official, the team announced via press release.
11:14pm: It’s a two-year, $3MM deal with a player option, reports Mike Mazzeo of ESPN.com (Twitter link). That would appear to exhaust Brooklyn’s taxpayer’s mid-level, Mazzeo notes, leaving the team with only the minimum to hand out to outside free agents.
THURSDAY, 7:59am: The Nets have an agreement in principle with Wayne Ellington, the team announced via press release. Teams usually announce signings rather than agreements, so it’s unclear if a formal contract has yet been signed. Brooklyn has a portion of its taxpayer’s mid-level left over after agreeing to terms with Shane Larkin for part of it, though it’s not yet known if the team is using that or if Ellington is merely getting the minimum salary.
Ellington leaves the Lakers despite making it clear to GM Mitch Kupchak that he preferred to come back. The Lakers reportedly reached out to him on the first day of free agency, as did the Cavaliers, Warriors, Wizards, Spurs and Hawks. The Knicks also apparently had interest.
The Thaddeus Foucher client who turns 28 in October is coming off career highs of 10.0 points and 25.8 minutes per game for the Lakers. That’s in spite of 37.0% three-point shooting that was below his 38.2% career rate.