Bojan Bogdanovic agrees to 2-year, $21 million with the Indiana Pacers, per report

Bogdanovic signing with the Pacers knocks down another domino in free agency

Serbian swingman Bojan Bogdanovic has agreed to a two-year, $21 million with the Indiana Pacers, according to a report from ESPN’s Adrian Wojnarowski. Year two of the deal is only partially guaranteed. It’s unclear what figure Bogdanovic will receive annually at this point.

Bogdanovic had a qualifying offer tendered from the Wizards, where he finished the season last year, but Washington revoked the offer once Bogdanovic agreed to terms with the Pacers, per Wojnarowski.

Bogdanovic fills an obvious need for the Pacers on the wing in the absence of Paul George. This is another step in a busy offseason for Indiana attempting to rebuild its team.

Bogdanovic isn’t going to make the Pacers competitive, but he does provide them with shooting they need out on the wing. He shot 37 percent from deep overall last season and 39 percent during his tenure in Washington. He also averaged 13.7 points per game throughout last season.

Bogdanovic’s signing doesn’t mean much in the long term for Indiana. It’s a short deal with lots of team security. However, it does have a ripple effect on what is going on around the league.

The Pacers add a much-needed shooter

Before we get to the rest of the league, this is a good fit for the Pacers. They just stretched Monta Ellis’ contract out and needed to find more shooting to go along with their creators on the perimeter.

Bogdanovic is a good enough outside threat to provide them with some semblance of floor spacing despite playing Victor Oladipo and Lance Stephenson for heavy minutes. Bogdanovic won’t change the fortunes of this team, but he’ll make it a bit better offensively.

Plus, with a partial guarantee in the second year, the Pacers can get up from under the deal fairly easily if something else comes up. And, in either case, it’s only a two-year commitment, which allows both Bogdanovic and the Pacers to give things a good enough test run before deciding whether or not they will part ways.

Washington is clearly going to match Otto Porter’s offer sheet now

The Wizards had the right to match any offer for Bogdanovic as a restricted free agent, but he became an unrestricted free agent as soon as the Wizards pulled his qualifying offer off the table.

That sent a signal around the league that the Wizards were going to match Brooklyn’s four-year, $106 million offer sheet tendered to Otto Porter.

The Nets’ cap space is currently tied up with Porter’s offer sheet, but they now know Washington has intentions of matching the deal and can move on. That’s important, because now Kentavious Caldwell-Pope is a free agent. After the Pistons traded for Avery Bradley earlier this morning, they renounced Caldwell-Pope’s rights as a restricted free agent.

Brooklyn can move on and go after Caldwell-Pope now

During the regular season, Keith Smart of Real GM reported that the Nets would make Caldwell-Pope and Porter their top two targets in free agency.

The Nets have been notorious for tendering offer sheets to unrestricted free agents over the last few years, but haven’t had success in the past. Now, with Caldwell-Pope on the open market without any barriers in the way, the Nets can go after their guy.

The Nets could have a backcourt of D’Angelo Russell and Caldwell-Pope together, which is a much better spot than they were in just four or five months ago — let alone last year.