The Mavs rescinded their $2.9 million qualifying offer to Ferrell on Friday, making him an unrestricted free agent. The source said, however, that the team considered the qualifying offer "a placeholder" and fully expects to re-sign Ferrell.
Ferrell, 25, joined the Mavs as a D-League call-up during the 2016-17 season and performed so well that the team signed him to a two-year contract when his 10-day deal expired.
Ferrell has averaged 10.6 points and 3.0 assists in 118 games for the Mavs, including 50 starts. He could get pushed for playing time by second-round pick Jalen Brunson.