The Spurs are still 0-0, so every figure worth citing comes from last season. Payroll, net rating and two late-season shooting dips are the closest thing to a baseline until games count again.

How good was last season's team, on paper?
San Antonio went 62-20 last season with a net rating of +8.4, second-best in the league, at a pace of 100.7 possessions per game. That is a real, sustained level of play across 82 games. It does not prove anything about a title: the Spurs still lost the NBA Finals in five games to the Knicks.
How much payroll room is left before the tax line?
Payroll sits at $198.3M against a $200.4M luxury tax line, a gap of roughly $2.1M. That has held even with De'Aaron Fox at $49.8M, Devin Vassell at $27.0M, Keldon Johnson at $17.5M and Victor Wembanyama at $16.9M. It does not guarantee anything once camp trims the roster or a trade changes the math.
What did Wembanyama's late-season reserve stretch show?
In his final five appearances as a reserve last season, Victor Wembanyama scored 20 or more points four times. That is scoring that held up on extra minutes, without a starting role. It does not say anything about this season - those games are already in the books, and 2026-27 has not tipped off.
Did Fox's efficiency really fade last season?
De'Aaron Fox's efficiency thinned late last season: a true shooting mark of 42.7% over his final 10 games, 13.3 points below his season average. That is a real drop across a real sample. It does not say whether it carries into 2026-27 - no games have been played yet to test it.
Did Keldon Johnson cool at the same time?
Keldon Johnson's true shooting also fell last season, to 45.8% over his final 10 games, 13.4 points below his season average. Two rotation scorers cooled together late in the year. It does not prove a trend for this season - it is one closing stretch from a year that is already over.
Are the Spurs over the luxury tax for 2026-27?
No. Payroll sits at $198.3M against a $200.4M tax line, leaving roughly $2.1M of room.
Has De'Aaron Fox's shooting decline continued into this season?
There is no way to know yet - the 2026-27 season has not started, and the 42.7% figure is from his final 10 games of last season.
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