Trade #1: Derrick White Gets Shipped to Atlanta
The first of the two potential trades has very few frills attached. In this case, the Spurs send Derrick White, Thaddeus Young, and a second-round pick to Atlanta for a package including Cam Reddish, Danilo Gallinari, and a (top ten-protected) first-round pick in the 2023 NBA Draft.
I am by no means eager to ship White to another team-- when he's been at his best this season, he's often been one of the primary difference-makers leading the Spurs to a win. He's proven himself to be one of the best and most versatile defensive guards in the league and has looked very good next to Dejounte Murray since finding his footing.
With that in mind, though, it's worth bringing up a few unpleasant facts. White will be turning 28 years old this coming Summer (a full nine years and change older than Josh Primo), is shooting a career-low 29% from beyond the arc, and is shooting 42% from the floor, which trails all other active Spurs players except Lonnie Walker IV.
If the Spurs have a chance to acquire a younger, higher-upside wing player like Cam Reddish with an additional first-round pick no less, it would be in the Spurs' best interest to take the deal. This would almost certainly make the Spurs worse before getting better, but considering that the Spurs own all of their future first-round picks, this should not necessarily be a concern.
This would give Josh Primo a proper rotation spot coming off the bench and it would likely allow either Lonnie Walker or Devin Vassell to show what they can do in the starting lineup.
I don't think such a deal gets done without both the Spurs and Hawks doing each other a favor, however. In this scenario, the Spurs would take on Danilo Gallinari's contract to give the Hawks more cap flexibility over the next couple of years. To sweeten the deal even further, the Spurs will send Thaddeus Young (an expiring contract) plus a 2025 second-round pick to Atlanta. In return, the Hawks will ideally offer the Spurs a first-round pick with relatively few protections.