INDIANAPOLIS -- The Pacers are signing guard Ethan Thompson to a two-way contract and waiving point guard RayJ Dennis to clear space, a league source confirmed to the IndyStar on Sunday. Michael Scotto of Hoops Hype reported the news first.

Thompson earned first-team All-Pac 12 honors at Oregon State in 2020-21, helped the Beavers to a surprising Pac-12 tournament title and a stunning run to the Elite Eight in the NCAA Tournament in Indianapolis as a No. 12 seed that season. He has signed contracts with the Bulls, Magic and Heat including a previous two-way contract with the Magic in February, but he has yet to appear in an NBA game. However, in 194 career G League games with the Windy City Bulls, Mexico City Capitanes, Osceola Magic and Sioux Falls Skyforce, he is averaging 18.0

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