The Indiana Pacers waived guard Monta Ellis on Wednesday, league sources told The Vertical.
Ellis had two years and $22.9 million remaining on the four-year contract he signed with the Pacers in 2015.
For the Pacers, the release of Ellis continues the team’s shift toward retooling their roster around center Myles Turner, guard Victor Oladipo and forward Domantas Sabonis. The Pacers acquired Oladipo and Sabonis from the Oklahoma City Thunder in the Paul George trade on Friday.
Ellis, 31, has played 12 NBA seasons with Indiana, Dallas, Milwaukee and Golden State. He has averaged 17.8 points and 4.6 assists in 833 career games, carving a niche as a slashing combo guard able to provide consistent scoring.
Ellis averaged 8.5 points, 3.2 assists and 27 minutes in 74 games last season for Indiana.
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