5:03pm: The Pacers have officially waived Ellis, per the NBA’s transactions log. According to David Aldridge of TNT (via Twitter), Indiana will use the stretch provision on Ellis, stretching his cap hit across five years.
That will create nearly $9MM in extra 2017/18 cap room for the Pacers, which they could use to make an offer to Kelly Olynyk or another free agent.
4:16pm: Confirming that Ellis is being waived, Nate Taylor of The Indianapolis Star tweets that there’s no buyout involved in the transaction, meaning Indiana will remain on the hook for Ellis’ 2017/18 salary unless another team claims him, which is extremely unlikely.
4:06pm: The Pacers are waiving veteran guard Monta Ellis, according to Shams Charania of The Vertical (Twitter link). Charania’s report doesn’t include any additional details yet, but the two sides were said to be discussing a buyout earlier this week, so it seems they’ve reached an agreement.
Ellis entered the 2016/17 season having started 677 of 710 regular season games since his rookie season, but saw his role with the Pacers reduced last season, and started just 33 of 74 games. The 31-year-old averaged 8.5 PPG and 3.2 APG in 27 MPG, which all represented the lowest marks since his rookie season back in 2005/06.
The contract Ellis signed with Indiana back in 2015 called for him to make $11.227MM in 2017/18 and featured a player option worth $11.69MM in 2018/19. Ellis’ player option is currently non-guaranteed, however, so the Pacers will only be on the hook for his ’17/18 salary if no buyout was reached.
Ellis will be suspended for the first five games of next season for violating the league’s anti-drug policy, but that shouldn’t have a substantial impact on his market as he seeks his next team. He’ll be an unrestricted free agent after he officially clears waivers.
Photo courtesy of USA Today Sports Images.
lakers on a 1 year deal, someone has to take that money haha
If he’s waived pacers are paying him. So that means any team gets him at the minimum. He’s going to a contender
Ugh, what contender? Maybe a low-end playoff (not title) contender like Miami if they’re desperate to take a “scorer” for their bench who might not be able to score anymore.
Cavs or Clips— in a DIMINISHED ROLE! A scoring spark plug off the bench.
Would be a great move for them if they were able to buy him out
See Ellis in a Clipps Jersey
I don’t suppose the Mavs would be interested in bringing Ellis back and trading Wesley Matthews to create cap space, would they?
What would they do with that cap space? He’s in the final year of his contract and there isn’t really anybody out there worth replacing him with at this point. Plus, who’s going to take him?
Pretty sure he signed a 4 year contract and still has 2 years left.
My bad, you’re right. So that’s why Dallas would trade him. But it’s also a stronger reason why nobody would take him back (especially nobody with cap room to accommodate him).
way the hec are the pacers doing
Releasing a guy who was a bad signing to begin with? Ellis is over the hill and is best served as a bench scorer, in small spurts, on a veteran’s minimum salary.
GSW or Cavs
Man, remember when the Warriors booed Joe Lacob when they traded Monta for Bogut? If you would have told anyone in that arena that day that years from then the Dubs would be 2 of 3 in the finals, have two MVPs and Monta would be waived by the Pacers, you would be thought of as crazy.
Exactly, some compared him to Curry or even better… I guess that perception changed over time, huh?
I’m a Warriors fan. People were irritated that Ellison didn’t get the team because they figured he’d spend big (remember, having a not willing to spend owner resulted in Warrior fan PTSD). I thought the people booing Lacob were idiots (both because he seemed reasonably likely to be at least a decent owner and because it took away from the honor Mullin was receiving), but I can see how people didn’t trust this new owner they didn’t know much about.