Trade Exceptions are used to acquire players in trades, they can't be used to sign FAs or draft picks.
That being said, if Tony is traded into New York's cap space in exchange for a large TE, the Spurs would then be well under salary cap and have plenty of room to bring over De Colo.
In the end though, the LLE would likely have been enough to get De Colo here this year, but its been reported that both sides saw the benefit of Nando staying one more year in Spain. His team advanced to the Euroleague and he'll play a higher level of compe ion next year.
Also, Nando is not a PG.

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