3. The Spurs could run it back
While the Spurs could use their cap space to take back big contracts in exchange for future assets, they don't necessarily have to go that route. They could play it safe, so to speak, by bringing back most of the players on the roster. After all, with most of this year's team under contract for next season, they'll have few spots to fill.
With Dejounte Murray, Devin Vassell, Keldon Johnson, McDermott, Jakob Poeltl, Tre Jones, Joshua Primo, Richardson, Zach Collins, and Romeo Langford, the Spurs could have at least 10 returning players. Then there's Walker, Keita Bates-Diop, Jock Landale, Joe Weiskamp, and Davontae Cacok, most of whom are on team contracts for next season. Of those players, Walker and Bates-Diop appear most likely to return.
San Antonio also has four draft picks but isn't likely to keep all four due to the 15-man roster limit. The Spurs could keep their own pick and possibly combine those from Toronto and Boston to acquire another lottery pick. Were that to happen, then that will leave the Spurs with just one regular roster spot open, which they might use to sign the player they select in the second round.
Bringing back 12 players from a team that's on pace to lose 50 games isn't the most appealing option, but it does make some sense. The Spurs have a young roster and several players could definitely up their games next season, hopefully improving the team by internal development. Doing so would also preserve San Antonio’s ability to make trades next season, thereby keeping option two open, even as they essentially run it back with this year's team.
All in all, while there aren’t any realistic big-name targets for San Antonio to pursue, they can still put their cap space to good use. They could use it to sign value contracts, play it safe, or even use it to take back bad contracts for assets.
No matter what route they take, the Spurs have already set themselves up well for the future. With their cap space, San Antonio can continue to improve the team's outlook this summer.