According to Michael Scotto of HoopsHype, the Indiana Pacers have signed Ethan Thompson to a two-way contract. Thompson has spent the first part of the season with the Sioux Falls Skyforce, the Miami Heat’s G League affiliate. However, Miami didn’t act quickly enough, so the Pacers have stolen him out from under their noses. Indiana waived RayJay Dennis in order to bring Thompson on board.
Thompson has been in the G League for years. He’s spent the past five seasons playing there and has appeared in games for four different teams now (soon to be six, once he plays for the Noblesville Boom). Indiana will now get to take a good look at the 6-foot-4, 26-year-old guard.
And perhaps he could be something for them down the line.
Pacers stole Ethan Thompson from Heat
The G League veteran is coming off a string of very impressive games for the Skyforce. He has put up 30-plus points in two of their last three games, including a monster showing against the Cleveland Charge.
Thompson ended that game with 44 points, six rebounds, 10 assists, and two steals while shooting 14-of-24 from the field, 6-of-12 from behind the three-point line, and 6-of-7 from the charity stripe.
The Indiana Pacers are signing guard Ethan Thompson to a two-way contract and will waive two-way guard RayJ Dennis to make room for the signing, league sources told @hoopshype. pic.twitter.com/3fL5OVdVCe
— Michael Scotto (@MikeAScotto) November 30, 2025
That showing helped him pump up his numbers for the season, which were already in a great place before his huge night against the Charge (and 31-point performance against the Wisconsin Herd).
So far this season, Thompson has appeared in eight games for the Skyforce, playing 36.8 minutes per contest, which ranks first on the team and eighth in the entire G League.
Thompson is averaging 26.9 points, 5.8 rebounds, 6.5 assists, and 1.4 steals while shooting 45.0% from the floor and 36.8% from deep range on 8.5 three-point attempts per contest.
He’s been absolutely dominating in the G League this season, and the Pacers will now bring him onto a solid Boom roster that also includes Kyle Guy and rookie two-way guard Taelon Peter.
Thompson’s solid size at the guard position should give him a real chance to thrive, and perhaps even earn some opportunities up with the big club in Indianapolis.
If he continues to play as well as he did with the Heat’s G League team, the Pacers could have an underrated prospect on their hands.
And as they look to reload their roster for when Tyrese Haliburton returns, finding quality, cheap players will be important. Thompson could be entering that potential pipeline.