Pacers officially sign Ty Lawson

The Indiana Pacers announced Monday they've signed point guard Ty Lawson.

Terms of the deal weren't disclosed.

"We're glad to have Ty come play with the Pacers for this final run of the season," said Pacers president of basketball operations Larry Bird in a press release. "We think he brings added speed to our backcourt, he can get up and down the floor and he helps strengthen our second unit."

Lawson said, "This is a good opportunity for me to come here, try to help the Pacers win and get into the playoffs. I'm just ready to play and do whatever is needed."

After being traded to Houston last summer, the Rockets reached a buyout with Lawson following a disastrous 53-game stint. After averaging 15.2 points and 9.6 assists in 2014-15, his stats dipped to 5.8 points and 3.4 assists per game while shooting career lows from the field.

Houston was 9.9 points per 100 possession worse with Lawson on the court.

The Pacers waived swingman Chase Budinger in order to create a roster spot for Lawson.