The Indiana Pacers and Monta Ellis are engaged on buyout talks.

An agreement between Ellis and the Pacers could be agreed upon by the end of July.

Ellis signed a four-year, $44 million deal with the Pacers during the 2015 offseason.

While the Pacers are generally shifting towards a rebuild following their trade of Paul George to the Oklahoma City Thunder, they did also sign veteran point guard Darren Collison.