The San Antonio Spurs found themselves included in a variety of trades during the NBA offseason, one of which involved veteran point guard Cam Payne. Spending the last four seasons as a member of the Phoenix Suns, Payne was traded to San Antonio, along with a 2025 second-round pick and cash considerations, in exchange for a protected 2024 second-round pick.

With the Spurs needing to make some decisions on their roster heading into training camp in a few weeks, the organization decided to part ways with Payne and waive him on Monday, according to ESPN's Adrian Wojnarowski. This allows him to become an unrestricted free agent after clearing waivers, but he will be ineligible to re-sign with Phoenix.

Payne, 29, will now be able to sign with a contending team, one that he can contribute to as one of the better back up point guards in the league. Despite being out of the league a handful of years ago, the now eight-year veteran had been an integral member of the Suns' playoff contending teams over the last couple of seasons.

Playing in a total of 48 games this past year, Payne averaged 10.3 points and 4.5 assists per game while shooting 41.5 percent from the floor and 36.8 percent from three-point range. He came off the bench in 33 of the 48 games he played in.

The main reason why the Spurs ended up waiving Payne is because they do not have room for him. San Antonio entered Monday with 18 players under contract for the upcoming year, and they have a few youthful backcourt talents, such as Malaki Branham and Blake Wesley, who are vying for more minutes.  The team also cut ties with Lamar Stevens this offseason, another player they had acquired in a trade during the summer.

Set to make $6.5 million this upcoming season, Payne will leave the Spurs with a dead cap hit, but they did receive $5.6 million from the Suns in their offseason trade. The second-round pick San Antonio received from Phoenix is the New Orleans Pelicans' 2025 draft pick, one that carries no protections and will convey to the Spurs.

After waiving Payne, this organization will still have some roster decisions to make. Two more players will need to be cut or traded before the start of the 2023-24 season, leaving Khem Birch, Cedi Osman and Reggie Bullock as the likely veterans fighting for a roster spot entering training camp.