Monta Ellis Waived by Indiana Pacers After 2 Years with Team

The Indiana Pacers officially waived shooting guard Monta Ellis on Thursday after two seasons with the team.

Indiana announced the move Thursday after The Vertical's Shams Charania first reported the move Wednesday.

The Pacers will use the stretch provision on Ellis's remaining $11.2 million over the next five years, according to Turner Sports' David Aldridge. 

The Pacers' decision to waive Ellis comes two days after Nate Taylor of the Indianapolis Star reported the two sides were discussing a buyout. 

The move marks the end of a two-year partnership between Ellis and the Pacers, which started in July 2015 when the two sides came to terms on a four-year deal worth $44 million. 

During his first season in Indiana, Ellis continued to operate as one of the NBA's more volatile volume scorers, averaging 13.8 points on 42.7 percent shooting from the field and 30.9 percent shooting from three. 

This past year, Ellis was shifted over to a primary role off the bench and started just 33 games over the course of 74 total appearances. As a result of that move, Ellis' playing time dipped from 33.8 minutes per game down to 27.0. 

The shift into a reserve role also sent Ellis' scoring numbers tumbling. 

All told, the 31-year-old averaged 8.5 points—the fewest since his rookie season—on 44.3 percent shooting from the field, including 31.9 percent from three. Ellis' player efficiency rating also dropped to the lowest mark of his career (9.9). 

Now looking for a new team, Ellis is likely headed for a pay cut at his next stop due to declining production and a looming five-game suspension for violating the NBA's anti-drug policy. 

Stats courtesy of Basketball-Reference.com