JULY 15TH: The deal is official, the Spurs announced via press release.
The 32-year-old was a key part of the Spurs’ championship team and his return was considered a vital part of management’s plan to compete for a sixth franchise title next season. The third year of Diaw’s deal is partially guaranteed, according to sources. Diaw is guaranteed $15.5MM over the first two years of the deal.
Spurs GM R.C. Buford and Diaw’s agent Doug Neustadt completed the deal earlier today. With Diaw’s return set, the Spurs will continue their pursuit of free agent Pau Gasol with an offer of their midlevel exception, league sources tell Wojnarowski.
The deal includes protections for the Spurs’ salary-cap space should the organization change direction in the next few years and move toward a rebuild. In his 11 NBA seasons with Atlanta, Phoenix, Charlotte and San Antonio, Diaw has averaged 9.1 points, 4.7 rebounds and 3.7 assists per game.