Report: Nets sign Keon Ellis to 2-year, $18 million contract

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The Brooklyn Nets came into 2026 NBA free-agency armed with plenty of cap space to spend on players that may be looking for a different situation than what they were in last season. Brooklyn already made one of the bigger moves this summer by trading for Minnesota Timberwolves forward Julius Randle and now, they add a player that should be a crucial member of the rotation next year.

ESPN's Shams Charania reported on Tuesday that the Nets signed Cleveland Cavaliers guard Keon Ellis to a two-year, $18 million guaranteed contract in free-agency. Charania noted in his report on X that the deal "contains a full mutual option that fully guarantees the $18M for Ellis while allowing both sides to have a conversation about a new deal next summer, but either party can opt-in (not opt-out)."

Ellis, 26, is coming off a 2025-26 season in which he averaged 6.7 points, 1.9 rebounds, and 1.0 assists per game while shooting 44.0% from the field and 36.3% from behind the three-point line in 72 games played. Ellis split last season between the Cavaliers and Sacramento Kings after Sacramento traded him and Dennis Schroder to Cleveland around the February deadline.

Ellis has the reputation of being a perimeter player that can defend the opposing team's best perimeter threat and while being able to spread the floor with his long-range shooting. It also helps that Ellis spent the 2022-23 and 2023-24 season with Nets head coach Jordi Fernandez as one of the assistant coaches on the Sacramento staff and now, the two can work together again with the hopes of turning Brooklyn around for the better.

Aside from adding Randle and Ellis, the Nets have also re-signed forward Josh Minott and center Day'Ron Sharpe while also picking up the team option on guard Malachi Smith and extending a Two-Way qualifying offer to forward Chaney Johnson. Ellis should be a factor within Fernandez's rotation next season due to his skillset and it seems like Brooklyn signed him at a value.


The deal, negotiated by Mark Bartelstein and Torrian Jones of @PrioritySports, contains a full mutual option that fully guarantees the $18M for Ellis while allowing both sides to have a conversation about a new deal next summer, but either party can opt-in (not opt-out). https://t.co/Nsn42dwy0v

— Shams Charania (@ShamsCharania) July 1, 2026

This article originally appeared on Nets Wire: Report: Nets sign Keon Ellis to 2-year, $18 million contract

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