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Most likely option is the team will operate over the cap and have just the MLE and LLE ($8.4 and $3.3 million, respectively). Under this plan, they could (1) resign Simmons if he gets an offer sheet, (2) keep Gasol with non-Bird rights at a slight raise to last year's salary or less and (3) bring back Manu with Bird rights. Lee and Dedmon could conceivably be resigned without exceptions if taking small deals.
Spurs are waiting for some of the other dust to settle and will try to find bargains with those two exceptions, of use them to bring over Hanga. Miluntov can be signed to rookie scale deal.
They COULD operate under cap and keep Mills' lower cap hold ($6.8 million) on the books and resign him last. In that case, they'd have $78.6 million committed including White, so $20+ million in cap space. But that would require them to renounce Manu, Pau and others. Adding in Simmons' cap hold moves it to $81.3 million or so plus some roster holds.
So long story short, they could carve out cap room if wishing to go over $8.4 million on any new player. But very unlikely at this point given who's left.
