The Cleveland Cavaliers decided not to extend a qualifying offer to Wayne Ellington when free agency began. On Tuesday night, the former Cavaliers shooting guard agreed to a 2 year deal worth $5 million with the Dallas Mavericks, according to Yahoo! Sports.
Dallas has reached agreement on a two-year, $5-million plus deal with free agent guard Wayne Ellington, league sources tell Y! Sports.— Adrian Wojnarowski (@WojYahooNBA) July 10, 2013
This is significantly less per year than the Cavaliers' qualifying offer would have been. The Cavs would have been paying him over $3 million in a qualifying offer, meanwhile the Mavs won't be paying that much and we don't yet know how much of the reported $5m is guaranteed money.
To answer the question that you are about to ask: no, this does not impact the Mavericks' pursuit of Andrew Bynum. The Mavs will still have all of their same projected cap space to go after Bynum after the agreement with Ellington. My best guess is that if the Mavs end up landing Bynum and going right up to the cap, they will use their "room" exception to sign Ellington. The room exception is designed to let teams that have used cap space to sign a player up to $2.652 million per year.
While Ellington was a good player for the Cavs, he probably wasn't needed anymore with the drafting of Sergey Karasev and the fact that we have C.J. Miles at the same position for a lower price. Plus, now we get a poem from Angelo about Ellington, so everybody wins.