Every member of the team was given the chance to stay with the club for another year after Sheffield finished second in the BBL Championship – their highest-placed finish since the 2013/14 campaign.
“We haven’t had any declines yet,” Lyons told The Star.
"It’s still really early. There’s a trickle-down effect with the high leagues finishing at this time, like the NBA and EuroLeague.
"We have been lucky to have some really talented guys. They will all be waiting around to see if there’s any opportunities. It’s up to me how long I’ll be waiting with them.”
Montgomery, aged 23, becomes the first domestic player to commit to the club for next season.
Born and raised in Ecclesfield and a lifelong Sharks supporter, the point guard is set for a fourth campaign on Sheffield's roster having initially joined the club’s junior programme aged nine.
His 12 appearances last season was double his previous-highest total, set in 2018/19 and 2019/20.
Montgomery joins fellow point guard Rodney Glasgow Jr on the 2022/23 roster, with four overseas spots still available.
"Most of our domestic spots are locked up,” said Lyons, who remained tight-lipped about the identity of the other ‘familiar faces’ who have agreed to represent the club next term.
"We have got a few announcements to make in the next couple of weeks. Right now we are just putting a timeline together of when we are going to release names.”