Cap Watch: Room Before the Tax, a Bill Already Growing

By the Spurs Nightly Desk · Wednesday, September 16

San Antonio's payroll for 2026-27 sits at $198.3 million, above the $165.0 million salary-cap line and below the $200.4 million luxury tax, with both aprons untouched. Four contracts come off the books after this season, even as Fox's and Wembanyama's numbers are already set higher for 2027-28.

Spurs Nightly artwork — Illustration by Hoops Nightly.

Where does San Antonio sit against the cap right now?

Payroll sits at $198.3 million across 15 contracts, above the $165.0 million salary cap and below the $200.4 million luxury tax. The first apron sits at $209.0 million and the second at $221.7 million, both untouched for now, though several young contracts are still set to grow.

Who is carrying the bill?

Five contracts carry the payroll: De'Aaron Fox at $49.8 million, Devin Vassell at $27.0 million, Keldon Johnson at $17.5 million, Victor Wembanyama at $16.9 million and Tobias Harris at $15.0 million. Fox alone accounts for the largest single number on the sheet, a price tag for a lead guard still just 28.

What comes off the books after this season?

Four names on this year's sheet don't appear on next year's: Keldon Johnson at $17.5 million, Harrison Barnes at $8.0 million, Jordan McLaughlin at $2.4 million and Taelon Peter at $2.2 million all come off the books after 2026-27. That is real room, even before any moves are made.

Is Wembanyama's next contract already visible on the sheet?

Victor Wembanyama's $16.9 million salary this season rises to $43.5 million in 2027-28, already set on the sheet. Fox's $49.8 million climbs to $53.8 million that same year, and Vassell's $27.0 million dips to $24.7 million. Two years out, San Antonio already knows its two biggest bills.

What does San Antonio have to trade with in draft picks?

San Antonio owes its 2027 first-round pick to Sacramento outright. Beyond that, the ledger runs mostly on swaps: the 2027 second, 2028 first and 2030 first rounds are all swap rights, while the 2028 second, both 2029 picks and the 2030 second are owned outright. Not barren, not loaded.

The verdictSan Antonio has room before the tax and real distance before either apron, with four contracts expiring after this season. Fox's and Wembanyama's bigger numbers are already locked in for 2027-28, so this flexibility has a shelf life.

Are the Spurs over the salary cap this season?

Yes. Payroll sits at $198.3 million against a $165.0 million cap, though the team remains below the $200.4 million luxury tax line.

What is Victor Wembanyama's salary this season?

Wembanyama is set to earn $16.9 million in 2026-27, a number that rises to $43.5 million the following season.