A year ago, when Tim Duncan hit free agency, reports of an agreement between Duncan and the Spurs didn't surface until the last day of the July moratorium. This summer, another lifetime Spur is on the open market, and the player and team are expected to take their time in negotiations once again. According to TNT's David Aldridge (via Twitter), talks between Manu Ginobili and the Spurs are unlikely to happen for several days.
Based on comments made over the last several weeks by both the Spurs and Ginobili, it seems extremely unlikely that the veteran guard won't be re-signing with San Antonio. As such, there's no rush for either side to work something out, since waiting a few days allows the Spurs to explore other potential free agent targets or trade opportunities.
It's worth noting that Ginobili's cap hold on San Antonio's books is worth the maximum salary at the moment, so the Spurs won't be able to officially clear any cap space until reaching resolution with him. If and when Ginobili formally re-signs, it figures to reduce his cap hit significantly, since he's likely in line for a major pay cut on last year's $14.11MM salary.