Pacers Cut Ties with Young Guard, Sign Former Magic Wing

Nov 19, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard RayJ Dennis (10) and guard Tyrese Haliburton (0) react to a basket in the second half against the Charlotte Hornets at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-Imagn Images | Trevor Ruszkowski-Imagn Images

The Indiana Pacers will cut ties with two-way point guard RayJ Dennis to open up a slot for veteran shooting guard Ethan Thompson, sources have informed Michael Scotto of HoopsHype.

The Indiana Pacers are signing guard Ethan Thompson to a two-way contract and will waive two-way guard RayJ Dennis to make room for the signing, league sources told @hoopshype. pic.twitter.com/3fL5OVdVCe

— Michael Scotto (@MikeAScotto) November 30, 2025

A former First-Team All-Pac-12 honoree at Oregon State, the 6-foot-5 shooting guard went undrafted in 2021. He has spent most of his pro career in the G League, having played on affiliate deals for the Windy City Bulls (the Chicago Bulls' G League affiliate) in 2021-23, the Mexico City Capitanes in 2023-24, and most recently the Sioux Falls Skyforce this season (NBAGL affiliate to the Miami Heat).

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Thompson earned All-NBA G League Third Team honors and was named to the NBA G League Next Up Game while with the Capitanes in 2024.

He also briefly suited up for Puerto Rican squad Osos de Manati in 2024.

Technically, Thompson did did ink a two-way contract with the Orlando Magic in February of last season that lasted until he was waived in July — although he never played for Orlando proper, instead logging all his time with its G League club, the Osceola Magic.

Thompson's Hot 2025-26 Season Start in the G League

In eight Tip-Off Tournament games for Sioux Falls to kick off the 2025-26 G League season, Thompson has been averaging an encouraging 26.9 points on a .450/.368/.800 slash line, 6.5 dimes, 5.8 boards, 1.4 swipes and 0.6 blocks.

Given the Pacers' health woes, it's possible Thompson plays rotation minutes to kick off his tenure. As a G League signing, he will ostensibly be toggled between the Boom and the Pacers, and can play up to 50 NBA games for Indiana proper before the team would need to promote him.

After going undrafted out of Baylor in 2023-24, Dennis spent all of 2024-25 with the San Diego Clippers, G League affiliate to the LA Clippers (who of course, once upon a time, used to be the San Diego Clippers themselves).

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The 6-foot-1 point guard agreed to a two-way deal with Indiana in January 2025, and ultimately was a standout at the G League level. Dennis cameoed in just 11 games with the Pacers in 2024-25, but he earned NBA G League All-Rookie Team honors thanks to his tenure with the then-Indiana Mad Ants, the Pacers' G League club (now the Noblesville Boom), last season.

Thanks to a litany of Pacers backcourt injuries, Dennis had almost carved out a rotation role by default in Indiana this year. He had appeared in 13 of the Pacers' 20 games prior to this news. Across 12.9 minutes per this year for the 4-16 Pacers, Dennis has been averaging 4.9 points on .306/.316/.889 shooting splits, 2.0 assists, and 1.6 rebounds a night.

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