Indiana Pacers bringing back Lance Stephenson after waiving Rodney Stuckey

The Indiana Pacers waived veteran guard Rodney Stuckey on Wednesday, clearing the way for Lance Stephenson to return to the team.

Stephenson, a 6-foot-5, 230-pound free agent swingman, reached an agreement with the Pacers on a three-year, $12 million deal, league sources told ESPN.

Stephenson, 26, spent the first four years of his career with the Pacers before he left for the Charlotte Hornets via free agency in the 2014 offseason. He also had stints with the Los Angeles Clippers, Memphis Grizzlies, New Orleans Pelicans and Minnesota Timberwolves.

Stephenson owns career averages of 8.7 points, 4.2 rebounds and 3.0 assists in 352 NBA games (189 starts).

Stuckey, 30, has been plagued by injuries all season. His departure comes a day after the Pacers announced he would miss four to six weeks with a strained left patellar tendon suffered Sunday.

Stuckey appeared in 39 games off the bench for Indiana this season while averaging 7.2 points, 2.2 rebounds and 2.2 assists per game.

In his three seasons with the Pacers, the 6-5, 205-pound Stuckey recorded averages of 10.1 points, 2.5 rebounds and 2.6 assists per game over 168 appearances.

"We want to thank Rodney for his commitment to our franchise in his three years with the Pacers," Indiana president of basketball operations Larry Bird said in a statement. "He was a positive influence not only to our team but also in the community. We wish him nothing but the best in the future."