Update: David Aldridge of NBA.com:
Pacers will use stretch provision on Monta Ellis, per source. Ellis's remaining $11.2M salary will be stretched over the next 5 years.— David Aldridge (@davidaldridgedc) July 5, 2017
This is a mistake. The Pacers will be lousy next season, anyway. Better to take their medicine all at once rather than having Ellis counting against the cap through 2022.
Buyout negotiations between the Pacers and Monta Ellis are complete.
Shams Charania of Yahoo Sports:
Indiana has waived guard Monta Ellis, league sources tell The Vertical.— Shams Charania (@ShamsCharania) July 5, 2017
The 31-year-old has one plus skill – generating 2-pointers for himself. High-functioning offenses don’t value someone in that role, especially considering Ellis’ limitations elsewhere, particularly defensively. Teams with lesser offenses are more likely rebuilding and not targeting veterans like Ellis.
Shot creation matters, and Ellis can still help some teams off the bench. But for the same reasons Indiana was ready to part for him, don’t expect immense interest around the league.