This one's a doozy. In this proposal, the Spurs would offer to take the worst contract in the league off of the Rockets' hands in exchange for the third pick. That awful contract belongs to John Wall, who's owed a staggering $47.3 million next season, making him virtually immovable.
The Spurs could afford to take back Wall's contract, however, by offsetting some of his remaining money. They could do that by trading McDermott, Romeo Langford, and their combined $19.3 million in salary to Houston, and using their cap space to absorb the $28 million difference. That would close the door on San Antonio signing a player to a max contract but it'd allow them to keep Vassell, the 20th pick, and the Bulls' 2025 first.
For the Rockets, in addition to saving $28 million in salary, they would still receive the ninth and 25th selections and could later flip McDermott for another first. This deal could provide them with plenty of incentive to trade back but would be the most expensive trade scenario for the Spurs.
There's one more potential trade to explore.