Now, with two years and $22,917,500 left on the deal, it might be time for Indiana to cut its losses.
Nate Taylor of IndyStar:
It’s tough to say how Ellis fits with the Pacers, because I’m unsure what they’re trying to do after trading Paul George, but apparently they have interest in Kelly Olynyk and they need more than the $15 million they have available to land him.
If Ellis is willing to leave money on the table to pick his team, Indiana should probably accommodate. Turning 32 in October and lacking complementary skills to his ball-dominant offense, Ellis is more likely to get in the way of the Pacers’ new direction.
Because of those limitations, though, Ellis should be cautious in buyout negotiations. A team longing for his skills might not exist in 2017.