The Pacers plan to waive Taelon Peter, who is on a two-way contract, league sources tell Michael Scotto of HoopsHype (Twitter link).

Indiana selected the 6’3″ guard with the 54th overall pick in last year’s draft. He signed a two-year, two-way deal with the Pacers last July.

Peter, 24, made 38 NBA appearances for the Pacers as a rookie, averaging 4.5 points, 1.6 rebounds and 1.1 assists in 12.9 minutes per game. His shooting slash line was .380/.328/.625.

The former Liberty standout also played 20 games (32.5 MPG) for Indiana’s G League affiliate, the Noblesville Boom, averaging 14.9 PPG, 5.2 RPG, 3.8 APG and 1.5 SPG on .415/.363/.833 shooting.

More to come…