Pacers waive Monta Ellis
Monta Ellis is on his way out of Indiana.
The Pacers announced Thursday they've waived the veteran shooting guard.
The club was reportedly in talks with Ellis' camp about a potential buyout, but it seems they couldn't come to terms on a settlement.
The 31-year-old joined Indy in 2015 on a four-year deal worth $44 million, with a player option for the final campaign. The Pacers will use the stretch provision to spread the $11.2 million they owe him next season over the next five years, a source told TNT's David Aldridge.
Ellis is coming off his worst statistical season since his rookie year, averaging just 8.5 points, 3.2 assists, 2.8 rebounds, and 1.1 steals in 27 minutes per outing. He started at the two-spot until a groin injury sidelined him midseason, and upon his return, he served mostly as a reserve.
The 12th-year pro doesn't appear to fit into the organization's plans as it enters a rebuild after trading franchise player Paul George to the Oklahoma City Thunder. The Pacers got younger by acquiring Victor Oladipo and Domantas Sabonis in the deal, while letting veterans such as Jeff Teague walk.
The team has also been linked in trade rumors to another relatively young guard in Toronto Raptors backup Cory Joseph.
Oh, how the Monta have fallen.