Cap Watch: Where San Antonio's Payroll and Picks Stand…

By the Spurs Nightly Desk · Saturday, September 26

San Antonio carries a $198.3 million payroll, above the salary cap and below the luxury tax threshold, with De'Aaron Fox's $49.8 million topping a list that includes Devin Vassell, Keldon Johnson, Victor Wembanyama and Tobias Harris. The books already show sizable raises coming for Fox and Wembanyama in 2027-28, while the draft ledger keeps everything but one first-round pick in San Antonio's own hands.

Spurs Nightly artwork — Illustration by Hoops Nightly.

Where does the payroll sit heading into camp?

San Antonio carries a $198.3 million payroll after R.J. Davis joined the roster, above the $165.0 million salary cap and below the $200.4 million tax threshold. De'Aaron Fox's $49.8 million anchors the books, followed by 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.

How close is that to the luxury tax?

The gap is about $2.1 million between the $198.3 million payroll and the $200.4 million tax line teams pay to cross. Beyond that sit the two aprons: $209.0 million for the first apron and $221.7 million for the second, both still well clear of San Antonio's current numbers.

What does next season's cap sheet look like?

The 2027-28 numbers already on the books show raises across the roster: Fox to $53.8 million, Wembanyama to $43.5 million, Vassell to $24.7 million, Harris to $15.8 million and Julian Champagnie to $15.0 million. Dylan Harper, Stephon Castle, Luke Kornet, Carter Bryant, Jayden Quaintance and Tarris Reed Jr. are also already committed for that season.

What is San Antonio working with in draft picks?

The 2027 first-round pick is owed to Sacramento, and San Antonio holds swap rights on its 2027 second, 2028 first and 2030 first. Everything else stays in-house: the 2028 second, both 2029 picks and the 2030 second are all San Antonio's own, with nothing else sent out in trades.

Did signing R.J. Davis change the math?

Davis's addition on September 26 is already folded into the $198.3 million total, so the payroll and tax figures above reflect the roster as it currently stands, not a projection. That leaves San Antonio with room below the $200.4 million tax threshold heading into the regular-season opener, still more than two million dollars of separation.

The verdictSan Antonio is spending like a team that expects to compete, comfortably below the tax and holding most of its future picks; the bigger cap decisions arrive next summer when Fox's and Wembanyama's numbers climb.

Are the Spurs in the luxury tax?

No. Their $198.3 million payroll is below the $200.4 million tax threshold, with about $2.1 million of room to spare.

Which draft pick do the Spurs not fully control in 2027?

San Antonio owes its 2027 first-round pick to Sacramento, though it keeps swap rights on that year's second-round pick.