If Spanoulis wants out and will accept a Fisher-like release without payment, the Spurs have saved some money and will open a roster spot.
If Spanoulis wants out but demands a buyout of his remaining years, the Spurs have cost themselves some cap room and maintained costs against the tax threshold while opening a roster spot and bumping closer to the tax threshold (in theory).
If the Spurs intend to release Spanoulis, they've accomplished basically the same thing.
If the Spurs are truly interested in Spanoulis and he's not coming back to the USA, they've dealt two assets for a guy who will essentially only count against the cap while eating a roster spot until released.
Trying to be optimistic -- maybe they have a deal to send out Spanoulis's rights and something else for a more logical fit. I doubt that, though.