The Pacers announced a series of roster moves today in a press release, formally exercising their 2013/14 option on Paul George and releasing three players: Luke Nevill, Sundiata Gaines, and Blake Ahearn.
The three cuts reduce the Pacers' roster to 15 players, though it's unclear if the club will carry a full 15-man roster into the regular season. Camp invitee Ben Hansbrough is still on the roster, on a fully non-guaranteed contract, and wasn't considered likely to make the team. Sam Young also has a contract that only has a small guarantee, though he appears a much stronger bet to stick around.
While Nevill had a fully non-guaranteed deal, both Ahearn and Gaines had $25K guarantees on their contracts, so the Pacers will take a very small cap hit for both players.
As for George, he was the only Pacer with an option decision pending for 2013/14. That will be the final year of his rookie contract, and he'll earn a guaranteed $3.28MM salary before potentially becoming a restricted free agent in the summer of 2014. The Pacers will also have the opportunity to sign him to a long-term extension in the 2013 offseason.