Guard Yogi Ferrell has agreed to a two-year deal worth $5.3 million to re-sign with the Dallas Mavericks, sources told ESPN.
Ferrell, 25, has averaged 10.6 points and 3.0 assists in 118 games for the Mavs, including 50 starts. He joined the Mavs as a call-up from the developmental league during the 2016-17 season and performed so well that the team signed him to a two-year contract when his 10-day deal expired.
The Mavs rescinded Ferrell's $2.9 million qualifying offer on Friday, making the guard an unrestricted free agent. However, that was a formality, as the Mavs and Ferrell were in the final stages of negotiating his two-year deal, which costs Dallas slightly less in annual salary.
A source said that Dallas is likely to give the remainder of its cap space (approximately $6 million) to longtime face of the franchise Dirk Nowitzki, whose $5 million team option was declined to give the Mavs more flexibility in free agency.
The Mavs also still have their $4.4 million cap-room exception. The New York Times first reported the Mavs' deal with Ferrell.