8:06pm: Lyles has an Exhibit 10 contract, according to Jones (Twitter link). He can make between $5K and $50K if he is waived by the Jazz, is assigned to the team’s G League affiliate and spends at least 60 days there.
JULY 12, 6:57pm: The Jazz have signed UMBC guard Jairus Lyles, the team announced on its website. Terms of the deal were not released, so it’s not clear if Lyles will receive any guaranteed money.
It’s not a two-way contract, tweets Tony Jones of the Salt Lake Tribune, who suggests it’s a path to get Lyles to the organization’s G League affiliate.
The 23-year-old is playing for Utah’s team in the Las Vegas Summer League, posting 11 points, four rebounds and four assists in his only appearance. He also played in two games in the Utah Jazz Summer League.
Lyles gained national prominence after his UMBC team upset top-seeded Virginia in this year’s NCAA Tournament. He put up a 20.2/5.5/3.5 line in 33 games with the Retrievers.