Pacers officially sign Lance Stephenson to reported 3-year deal

The Indiana Pacers officially signed swingman Lance Stephenson on Thursday to what's been reported as a three-year, $12-million contract.

It marks Stephenson's second go-round with the Pacers after spending the first four years of his career in Indiana.

"We're very happy to have Lance back as part of our team," Pacers president Larry Bird said in a team statement. "We always knew he wanted to come back here, and we feel now is the right time, not only for the rest of this season, but moving forward. We look forward to having a long relationship with him, because we know what he can bring to our franchise, both on and off the court."

The former second-round selection split time between the New Orleans Pelicans and Minnesota Timberwolves this season, averaging 6.6 points, 2.8 assists, and 2.3 rebounds in 12 combined contests.

The 26-year-old should help strengthen the Pacers' wing depth while providing scoring to an offense that ranks 15th in efficiency.