The Racine Journal Times' Gery Woelfel is reporting that, according to acquaintances of Ellis, the shooting guard is going to opt out of his contract after the season.
Obviously, this is all speculation at this point. Ellis nor the Bucks have said as much.
Ellis came to the Bucks last season, along with Ekpe Udoh and Kwame Brown, when the Bucks sent Andrew Bogut and Stephen Jackson to Golden State.
As Woelfel reports, Ellis is scheduled to make $11 million for next season.
If he does opt out of that contract, he will surely be looking for a bigger pay day. At first glimpse, he would appear deserving.
At 19.3 points per game, Ellis is the league's 11th-highest scorer and the fourth highest at his position.
However, Ellis is, and always has been, a guy who takes a high volume of shots. Ellis is hitting 41.4 percent of his shots from the field and 28.1 percent from beyond the arc.
Ellis' Memphis-area home also makes the Grizzlies worth some speculation.
Whether Ellis will find a raise remains to be seen. He is a dynamic scorer, but his usage rates combined with his poor shooting percentages make a giant contract to the 27-year-old a risky proposition.