The Indiana Pacers made a roster move over the weekend that raised a few eyebrows, waiving guard RayJ Dennis and signing Ethan Thompson to a two-way contract. While midseason shuffling isn’t unusual in the NBA, this particular decision signals a shift in how Indiana is evaluating its backcourt depth-and who they believe can contribute now and down the line.
Let’s start with Dennis. The 24-year-old guard had spent parts of the past two seasons with the Pacers organization on a two-way deal, and early this year, it looked like he might be turning a corner.
In his first four games of the season, Dennis averaged 11 points, 3.5 rebounds, and 5.3 assists-solid production for a player asked to step up in the wake of injuries to key rotation guards. He wasn’t lighting up the scoreboard, but he was doing the job: running the offense, moving the ball, and giving the Pacers some much-needed stability when they were thin at the position.
But as quickly as that promise appeared, it faded. Over the course of November, Dennis struggled mightily.
In nine games, he averaged just 2.2 points while shooting a rough 25.9% from the field and 21.4% from deep. The drop-off was stark, and it came at a time when the Pacers were getting healthier.
With Andrew Nembhard and T.J. McConnell returning to the lineup-and Quenton Jackson working his way back-Dennis found himself on the outside looking in.
His minutes dwindled, and so did his role.
That said, Dennis still brings things to the table. He plays with energy, he’s a willing passer, and he’s shown flashes of being a competent defender.
He’s not the guy you throw at elite scorers, but he can hold his own and make life difficult for second-unit guards. The tools are there, even if the consistency hasn’t been.
Now, the door opens for Ethan Thompson, who joins the Pacers on a two-way deal. Thompson has had stints in the G League and brings a different skill set to the table-more of a combo guard who can score and create a bit. It’s unclear how much run he’ll get in the short term, but the signing suggests Indiana is still actively evaluating who fits best around their core.
And speaking of that core, the spotlight may now shift to Quenton Jackson. The Pacers have been high on the Los Angeles native, and some around the league believe he’s outgrown the two-way label.
Dennis’ release could be a sign that Indiana is clearing the runway for Jackson to carve out a more permanent role. Whether that leads to a standard contract this season or not, he’s certainly trending in that direction.
For the Pacers, this is all part of the ongoing process of roster refinement. With Tyrese Haliburton anchoring the backcourt and Nembhard and McConnell providing steady contributions, the margins matter.
Two-way spots are valuable currency in today’s NBA, especially for teams trying to balance development and competitiveness. Dennis had his shot, showed flashes, but ultimately couldn’t sustain it.
Now Thompson gets his chance, and Jackson may not be far behind.
The season is still young, but Indiana is already making moves that could shape its depth chart for months to come.