As a Spurs fan, I hope Duncan takes $1 million. If I'm the Spurs front office, I probably offer something lower than $11 million to start off with just to gauge his interest. In a strictly business sense, giving an aging player big money is obviously risky. In a vacuum, I might advocate the Spurs hardballing Duncan.
All that said though, if the argument is what Duncan's current level of play is actually worth and what his worth is likely to be over the next couple seasons, it's pretty damn difficult to make a case that he's worth less than $12 million per year.