Indiana Pacers bringing back guard Lance Stephenson on three-year deal

The Indiana Pacers reached an agreement with swingman Lance Stephenson on a three-year, $12 million deal. The first two years of the contract are guaranteed, and there's a team option on the third, a person familiar with the situation confirmed to USA TODAY Sports' Sam Amick.

The person requested anonymity because the deal hasn't been formally announced.

Stephenson was a key contributor to the Pacers' back-to-back Eastern Conference finalists in 2013 and '14, averaging 13.8 points, 7.2 rebounds and 4.6 assists in 2013-14. He turned down a five-year, $44-million contract from the Pacers following that season in favor of a three-year, $27-million deal with Charlotte. Stephenson averaged just 8.2 points on 37.6 percent shooting in Charlotte and was traded to the Los Angeles Clippers, then traded again to Memphis.

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Memphis declined his extension and Stephenson played six games each with New Orleans and Minnesota this season, averaging 6.6 points, while battling injuries.

Stephenson was one of Bird's best draft finds, selected 40th overall in 2010, but he was a polarizing figure during his time with the Pacers. Love him or hate him, he brought high energy – and plenty of antics.

“I wanted to stay there, but they gave me a deadline where I had to choose,” Stephenson said of Bird in October 2014. “So there wasn't no time for me to make a decision. They gave me a deadline (before) how long it (was) going to take for them to go somewhere else. I had to make a quick decision and me and my agent decided we would see what other teams (were) talking about.”

The Pacers announced they have waived guard Rodney Stuckey, which would open a roster spot for Stephenson.

The Pacers had until April 10 to release Stuckey before he can take advantage of a $7 million player option for next season.

Stuckey, 30, suffered a left patellar tendon strain Sunday and is expected to miss four to six weeks, according to the team, likely ending his season.

The Pacers' bench is depleted with center Al Jefferson (sprained left ankle) out at least two weeks and forward Glenn Robinson III (left calf strain) will be reevaluated next week. Indiana used all five starters at least 32 minutes in a 115-114 loss to Minnesota on Tuesday night.

The Pacers signed Stuckey to a one-year contract for 2014-15 and he was an effective player with Paul George sidelined, averaging 12.6 points on a career-high 39.0 percent 3-point shooting. Indiana re-signed Stuckey and he has been far less effective, averaging 8.9 points and shooting 24.1 percent on 3s in 2015-16 and 7.2 points and 31.7 percent on 3s this season. He missed 24 games in 2015-16 and had only played in 39 this season due to a hamstring injury early in the season.

USA TODAY Sports' Sam Amick contributed to this report. Follow him on Twitter @Sam_Amick.