San Antonio faces a high-stakes financial puzzle as a potential Kawhi Leonard reunion clashes with salary cap constraints and the long-term commitment required to keep De’Aaron Fox.
This town might not be big enough for the both of 'em.
Or, more accurately, our belief is that in regard to the salary cap, the San Antonio Spurs won't be able to both retain De'Aaron Fox and trade for Kawhi Leonard.
So the roster might not be big enough for the both of 'em.
In the case of the point guard Fox? Despite his troubles in the NBA Finals loss to the New York Knicks, the Spurs swear he's a keeper.
Said GM Brian Wright this week: "We have the ultimate faith in De'Aaron and who he is as a player, what he's been for us and what he means to this team. And there's no wavering in that at all."
Meanwhile, in the case of the enigmatic Leonard? The Los Angeles Clippers are reportedly sniffing around trade ideas, and multiple media outlets are suggesting that a return to San Antonio is on his wish list.
Leonard, 34, just completed his 14th season in the NBA, and the seven-time All-Star remained on top of his game, averaging 27.9 points (a career-high), 6.4 rebounds, 3.6 assists, and 1.9 steals per outing while shooting 50.5 percent from the floor and 38.7 percent from the arc.
One conundrum for San Antonio? As Spurs fans know, we've all been down this road before. Leonard worked his way out of The Alamo City in 2018 in a manner that may have burned some bridges.
And another issue? How to afford his contract ($50.3 million in 2026–27), while also keeping Fox (on a $221.7 million deal over four years) ... with Victor Wembanyama - the centerpiece of the franchise - also due a max deal right around the corner.
Nevertheless, our colleague Marc Stein's site insists that "there are only two other teams that Leonard would consider signing an extension with: The two teams he played for before becoming a Clipper. Toronto and San Antonio.''
And ESPN's Bobby Marks hinted at the same this week during the 2026 NBA Draft broadcast on ESPN, saying "his former teams'' would be the ones "keeping an eye on what happens with'' Leonard.
Leonard has but two former teams.
The two-time Defensive Player of the Year was here from 2011 to 2018, and he was with the Toronto Raptors in the 2018-19 season when he led the franchise to a championship.
There is no doubt that on paper, adding Leonard alongside Wemby would mark a championship-level move. We'd argue there is also little doubt that - again, on paper - any team would rather have Leonard than Fox.
But that divorce was nasty. And the contracts are complicated. And while superstars in the NBA so often end up getting whatever they want, Leonard's path back to San Antonio seems loaded with obstacles.
