Ethan Thompson’s Role Diminishes as Pacers’ Season Spirals

On December 29, 2025, in a lopsided 126-119 road loss to the Houston Rockets, Indiana Pacers two-way guard Ethan Thompson saw his playing time plummet to a mere four minutes, during which he recorded two points on perfect 1-of-1 shooting and one assist. The minimal involvement marked a continuation of a sharp decline in his role, as the 26-year-old shooting guard has struggled to maintain consistent minutes amid the Pacers’ injury-ravaged and underperforming roster.

Thompson, who signed a two-year, two-way contract with Indiana on December 1, 2025, after dominating in the G League, initially showed promise. He made his NBA debut that same day against the Cleveland Cavaliers, scoring his first points on a jump shot. Early highlights included a career-high 11 points on December 5, along with rebounds, assists, steals, and blocks. He even earned starts in select games, including one against the Boston Celtics where he posted 13 points, four rebounds, four assists, and a steal over 34 minutes.

However, as the Pacers’ season has unraveled—marked by a prolonged losing streak, the season-ending injury to Tyrese Haliburton, and various other ailments—Thompson’s opportunities have evaporated. Head coach Rick Carlisle, known for lineup experimentation, has increasingly leaned on veterans and other young players, leaving two-way talents like Thompson on the periphery. With Indiana holding the league’s worst record and little to play for beyond draft lottery positioning, the focus has shifted toward evaluating different combinations, further diminishing roles for fringe players.

Born Ethan Ivan Thompson on May 4, 1999, in Harbor City, California, the 6-foot-4, 195-pound guard has Puerto Rican heritage and represents the national team internationally. His basketball journey began at Bishop Montgomery High School in Torrance, California, where he led his team to a state championship in 2017, defeating teams featuring future NBA stars like LaMelo and LiAngelo Ball. Thompson’s high school prowess earned him a scholarship to Oregon State University.

At Oregon State, Thompson became a cornerstone for the Beavers. Over four seasons (2017-2021), he developed into a versatile scorer and leader. His senior year coincided with Oregon State’s Cinderella run to the Elite Eight in the 2021 NCAA Tournament, where Thompson’s clutch performances powered upsets. He averaged double figures in scoring multiple seasons, showcasing a smooth mid-range game, three-point shooting, and playmaking ability. Brother Stephen Thompson Jr. also played for the Beavers, extending a family legacy.

Undrafted in 2021, Thompson’s professional career began in the G League. He spent time with the Windy City Bulls (2021-2023), Mexico City Capitanes (2023-2024), Osceola Magic (2024-2025), and briefly the Sioux Falls Skyforce before Indiana called. Across G League stints, Thompson consistently posted impressive numbers, often averaging over 20 points, with strong rebounding and assisting for a guard. His scoring prowess—highlighted by games in the high 20s and 30s—made him a standout, earning him two-way opportunities with Orlando (briefly in 2025) and now Indiana.

Thompson’s skill set—a combo guard capable of scoring from all levels, defending multiple positions, and facilitating—fits modern NBA needs. Yet, on two-way contracts, players shuttle between the NBA and G League (Noblesville Boom for Indiana), limited to 50 NBA games before conversion. Thompson’s early NBA flashes suggested potential rotation minutes, especially with Pacers’ injuries creating openings.

The decline in playing time reflects broader team dynamics. Indiana’s 2025-26 season, following a Finals appearance, has been disastrous. Haliburton’s Achilles tear derailed everything, exposing depth issues. Players like Pascal Siakam remain steady, but the supporting cast struggles. Carlisle’s rotations have become unpredictable, prioritizing veterans or different youth evaluations. For Thompson, this means garbage time or DNP-CD (Did Not Play – Coach’s Decision) more often.

Fantasy basketball implications are clear: Thompson offers little value currently. With minimal minutes and an uncertain role, he’s droppable in most leagues. However, in deep formats or those monitoring G League call-ups, keeping an eye makes sense—injuries or trades could reopen doors.

Looking ahead, Thompson’s two-year two-way deal provides security through 2026-27. Dominance with the Noblesville Boom could force another look, or earn a standard contract elsewhere. At 26, he’s in his prime developmental window, with international play for Puerto Rico adding experience.

Thompson’s story embodies perseverance. From undrafted to G League star to brief NBA contributor, he’s overcome waivers (Orlando, Miami) and roster churn. His debut excitement—”heart was racing”—captured the dream realized after years grinding.

As the Pacers limp through the season, Thompson’s reduced role highlights the harsh realities for two-way players on struggling teams. Experimentation may continue, potentially benefiting him later, but for now, his impact is muted.

Fans appreciate his early contributions, like efficient scoring and energy. Teammates, including Siakam, praised his play during hotter stretches. Yet, in a lottery-bound year, priorities shift toward future assets.

Ethan Thompson’s journey continues, likely back in the G League honing skills for the next opportunity. His talent suggests he’ll resurface—whether with Indiana or another franchise. For now, the role has evaporated, but the potential remains.