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Pacers bring back Lance Stephenson, waive Rodney Stuckey

The Pacers have reportedly signed Lance Stephenson to a three-year deal. (Photo via Pacers.com)

The Pacers have completed a deal to bring back veteran guard Lance Stephenson, ESPN’s Chris Haynes reports.

The contract is reportedly for three years and $12 million, with the first two years guaranteed.

Talks were originally reported by Adrian Wojnarowski of The Vertical on Wednesday afternoon.

Stephenson, a member of the Pacers’ Eastern Conference Finalist teams of 2013 and 2014, but left the team to accept a lucrative contract with the Charlotte Hornets. He has been on five teams since leaving Indiana, including stints with Minnesota and New Orleans this season.

Indiana also waived oft-injured guard Rodney Stuckey on Wednesday afternoon, after learning that his recently-strained left patella would likely end his season. The team had until April 10 to cut Stuckey to avoid paying his $7 million option for next season.

The Pacers are currently 37-37 and in seventh place in the Eastern Conference standings with eight games remaining. The team is in Memphis this evening, finishing the second half of a back-to-back one night after suffering a devastating home loss to the Minnesota Timberwolves.

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