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Report: Monta Ellis signs again with Pacers after cap snafu

Indiana Pacers Introuce New Players during a Press Conference

INDIANAPOLIS - JULY 14: Monta Ellis of the Indiana Pacers speaks to the media at Bankers Life Fieldhouse on July 14, 2015 in Indianapolis, Indiana. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and condition of the Getty Images License Agreement. Mandatory Copyright Notice: 2015 NBAE (Photo by Ron Hoskins/NBAE via Getty Images)

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Monta Ellis agreed to a four-year, $44 million contract with the Pacers.

But they ran out of cap room for him, which wasn’t necessarily as big a deal as it sounds.

Scott Agness of Vigilant Sports:

Because of the issue, Ellis had to complete the paperwork a second time, which he did Thursday evening, a source informed

Two big questions remain:

1. What, if any, significant consequence did Indiana face with other players as a result of this mix-up?

2. Have the Pacers officially submitted Ellis’ paperwork to the NBA and had it approved?

It’s possible they had Ellis sign but don’t yet have their financials in order to submit his contract to the league. His deal could be sitting in a drawer somewhere, signed and ready to go but not yet submitted. Even if that’s the case, though, it’s telling Ellis signed again rather than looking for another landing spot.

This issue might already be cleared up. If it’s not, Ellis clearly believes it will be resolved – which is quite telling. He has the most to lose if this somehow this doesn’t go smoothly, which is even more evidence this will be or has been completed without a hitch.