Report: Monta Ellis signs again with Pacers after cap snafu

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Monta Ellis agreed to a four-year, $44 million contract with the Pacers.

But they ran out of cap room for him, which wasn’t necessarily as big a deal as it sounds.

Scott Agness of Vigilant Sports:

Because of the issue, Ellis had to complete the paperwork a second time, which he did Thursday evening, a source informed VigilantSports.com.

Two big questions remain:

1. What, if any, significant consequence did Indiana face with other players as a result of this mix-up?

2. Have the Pacers officially submitted Ellis’ paperwork to the NBA and had it approved?

It’s possible they had Ellis sign but don’t yet have their financials in order to submit his contract to the league. His deal could be sitting in a drawer somewhere, signed and ready to go but not yet submitted. Even if that’s the case, though, it’s telling Ellis signed again rather than looking for another landing spot.

This issue might already be cleared up. If it’s not, Ellis clearly believes it will be resolved – which is quite telling. He has the most to lose if this somehow this doesn’t go smoothly, which is even more evidence this will be or has been completed without a hitch.