Report: Monta Ellis will opt out of contract

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Monta Ellis reportedly rejected a two-year, $24.8 million contract extension, opted out of a contract that would have paid $11 million and fired his agent.

Finally, Ellis signed a contract with the Mavericks worth $25.08 million over three years, including a $8.72 million player option for next season.

If that 2013 saga is any indication, Ellis will opt out.

Add his solid play in Dallas, and it’s practically a lock.

Steve Kyler of Basketball Insiders:

The big wrinkle for the Mavericks is Monta Ellis, as sources close to the situation believe Ellis will opt out of his deal this summer and seek a new multi-year deal based on his current play.

As teams project the salary cap to skyrocket in 2016, Ellis should definitely get more than $8.72 million next season. Plus, he can lock in some long-term security. He’s better off getting a new contract at age 29 this summer than at age 30 next summer.

This situation is a bit trickier for the Mavericks.

Depending what happens with Rajon Rondo (who could leave Dallas) and Tyson Chandler (who wants to stay but also probably wants to get paid), the Mavericks could have major cap space. If those two move on, Dallas could try to transform its roster, possibly using money they allocated for Ellis elsewhere.

If Rondo and Chandler stay, the Mavericks would likely be faced with paying Ellis or losing him and lacking the flexibility to find a suitable replacement.

My guess is Ellis remains in Dallas – the Mavericks seem quite fond of him – but that could be determined by how the season ends and the trickle-down effects that has through Rondo and Chandler.