The Spurs have formally re-signed Tim Duncan, the team announced. The sides had been working toward a two-year deal that would pay him $5MM this season with a player option for year two, as TNT’s David Aldridge reported.
Duncan last week confirmed his return for this coming season, which was reportedly in line with San Antonio’s expectation throughout the spring. Little, if any, doubt existed that he would re-sign with the Spurs as long as he indeed decided to play a 19th season in the NBA, but the question has been just how much of a discount the still-productive 39-year-old would give the team.
The Jim Tanner client made nearly $10.362MM this past season, but Aldridge’s report would indicate that his pay has been cut in half. The Spurs will open cap room to sign LaMarcus Aldridge and others, so a $5MM salary for Duncan would give him a lower cap hold and facilitate the addition of San Antonio’s newest star power forward. The $70MM salary cap, nearly $3MM higher than expected, will help, and it could mean Duncan gets a larger salary this season than he otherwise would have.