Nope, there is $1.8M in cap space if Williams is waived.
To make it clearer, right now and after having waived Williams, Spurs can:
- Sign a free agent for $1.8M.
- Trade for a player with a $2.4M salary.
Spurs not making official the rest of their summer moves (Kawhi, Green, Ginobili or West) might be a sign that they are looking at what to do with that money. It's hypothetical since this wait might also just be logistic related. And even if they are looking, it isn't said they will find something they like.