Pacers Sign Monta Ellis

Courtesy of USA Today

Courtesy of USA Today Sports Images

JULY 14TH, 12:20pm: The signing is official, the team announced.

“He’ll be a great addition to our team,” president of basketball operations Larry Bird said. “And he fits our needs for how we want to play. We’re excited to have him. He adds another veteran in our lineup and we think he’ll be a great fit, complementing George Hill in the backcourt.”

Despite the earlier reports, it’s a straight signing, not a sign-and-trade.

2:06pm: The expectation is that if the Mavs don’t sign DeAndre Jordan, they’ll have talks with the Pacers about turning the Ellis deal into part of a sign-and-trade that would bring Roy Hibbert to Dallas, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). Tim MacMahon of reported earlier that Hibbert is a consideration for the Mavs if Jordan is out of the picture.

JULY 2ND, 12:10pm: The Pacers and Monta Ellis have reached agreement on a four-year deal, reports Chris Broussard of (Twitter link). The contract will be worth $44MM with a player option after year three, Broussard adds (on Twitter). Ken Berger of has the value of the deal at an estimated $45MM (Twitter link). The Pacers had reportedly offered a deal with similar terms over three years on Wednesday, when the sides met, so it appears the player option season has sprung up since then.

The client of Happy Walters and Jeff Fried turned down a four-year, $48MM offer from the Kings, sources tell Chris Broussard of (Twitter link). The Hawks, Nuggets, and Heat were also reportedly in pursuit, and the interest was seemingly mutual between Ellis and Miami. The Mavs didn’t rule out a return, but they had other priorities, as Tim MacMahon of reported, and they didn’t intend to give him a raise on the roughly $8MM salaries he’d seen with them.

Indiana proved more willing to give the 29-year-old the raises he sought as he turned down his $8.72MM player option to stay in Dallas. The Pacers will use the cap flexibility created when David West decided against picking up his $12.6MM player option to accommodate the shooting guard, who figures to rev up Indiana’s offense, filling the playmaker role that Lance Stephenson used to occupy, as Chris Crouse of Hoops Rumors examined when he looked at Ellis’ free agent stock. The Pacers have wanted a more up-tempo attack, as they made clear this past spring.

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