Monta Ellis and the Pacers have verbally agreed to a four-year deal worth $44 million that includes an option for the shooting guard to return to free agency after Year 3.
The Pacers' push to sign Ellis was at the behest of team president Larry Bird, who led a contingent of team officials that dined with Ellis on Wednesday night.
The Pacers are looking to play at a faster tempo and have been looking for some time for more scoring punch in the backcourt.