4:26pm: The Pacers have officially waived Young, according to Wells (via Twitter).
1:48pm: The Indiana Pacers are expected to release Sam Young today, reports Mike Wells of the Indianapolis Star (via Twitter). Wells points out that Young suffered a severe ankle sprain that is expected to keep him out several weeks, just as teams are forced to make a decision on whether to guarantee nonguaranteed contracts.
Wells also reports that the Pacers are likely to sign another player to a 10-day contract for short-term wing help, which the team has needed since the injury to Danny Granger. Wells speculates that the team may look to sign forward Dominic McGuire, who was waived by the Hornets over the weekend.