Cap Watch: The Thin Margin Below San Antonio's Tax Number

By the Spurs Nightly Desk · Thursday, October 1

San Antonio's payroll comes in at $198.3M, over the $165.0M cap and $2.1M under the $200.4M tax threshold, anchored by big numbers for De'Aaron Fox and Devin Vassell. Four deals - for Keldon Johnson, Harrison Barnes, Jordan McLaughlin and Taelon Peter - are the only ones on this year's books that disappear from next season's sheet.

Spurs Nightly artwork — Illustration by Hoops Nightly.

How much room do the Spurs have under the tax?

San Antonio's payroll comes in at $198.3M against a $165.0M salary cap, putting the team over the cap but still under the $200.4M tax threshold by roughly $2.1M. That gap is thin enough that one trade or buyout could push the Spurs across it before the season starts.

Which contracts carry the most weight on the books?

Five deals account for most of the number: De'Aaron Fox at $49.8M, Devin Vassell at $27.0M, Keldon Johnson at $17.5M, Victor Wembanyama at $16.9M and Tobias Harris at $15.0M. Wembanyama's figure is still his rookie-scale number; it jumps to $43.5M in 2027-28, when Fox's deal climbs to $53.8M.

What comes off the books after this season?

Four contracts on this year's sheet - Keldon Johnson, Harrison Barnes, Jordan McLaughlin and Taelon Peter - do not appear on the 2027-28 cap sheet. Removing those four opens space even as Wembanyama's extension jumps and Fox's deal grows, with Vassell's number easing slightly to $24.7M the same season.

How close are the Spurs to the harder restrictions?

Beyond the tax, the first apron is set at $209.0M and the second apron at $221.7M. At $198.3M, San Antonio stays well below both lines for now, giving the front office access to trade aggregation and full exceptions if it wants to use them this season.

What does San Antonio control in future drafts?

San Antonio owes its 2027 first-round pick to Sacramento and holds swap rights on three others: the 2027 second, the 2028 first and the 2030 first. The picks it owns outright are the 2028 second, the 2029 first, the 2029 second and the 2030 second.

The verdictSan Antonio has stayed on the right side of the tax by a margin measured in a few million dollars, not dozens. Four contracts expiring after this season and a wide cushion below both aprons give the front office real room to work with once the season is underway.

Are the Spurs over the salary cap?

Yes. Their $198.3M payroll is above the $165.0M cap but $2.1M under the $200.4M tax threshold.

Do the Spurs own their first-round picks in the coming drafts?

They owe their 2027 first to Sacramento and hold swap rights on the 2028 and 2030 firsts, but own their 2029 first outright.