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Spurs Re-Sign Manu Ginobili

JULY 11TH, 1:55pm: The Spurs have officially re-signed Ginobili, the team announced today in a press release.

JULY 3RD, 2:10pm: Ginobili's two-year deal with the Spurs will be worth $14MM, according to Adrian Wojnarowski of Yahoo! Sports.

10:35am: While no reporters have the details of the deal yet, Manu Ginobili appears to have reached an agreement with the Spurs to remain in San Antonio. Ginobili, an Interperformances client, announced the news himself on his Twitter account, tweeting: "Thrilled to announce that as I always hoped, I'm gonna stay with the @spurs for two more years. #gospursgo."

We heard just yesterday that Ginobili and the Spurs were in no rush to negotiate a new contract, since there didn't seem to be any interest from either side in exploring alternative options. Perhaps after reaching a long-term agreement with Tiago Splitter, the Spurs decided to move on and lock up Ginobili as well.

Ginobili, 35, is coming off a three-year extension that paid him more than $14MM in 2012/13, so he figures to take a significant pay cut on his new deal. His salary, along with Splitter's first-year salary, will essentially determine whether the Spurs have any cap space available this summer, or whether the club just has the mid-level exception to spend. I expect it will be the latter.

After reaching agreements with Splitter and Ginobili, the Spurs will likely attempt to re-sign Gary Neal, as well as weighing potential uses for their MLE.

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