Spurs re-sign veteran forward Tim Duncan

Veteran forward Tim Duncan has re-signed with the San Antonio Spurs.

Tim Duncan has re-signed with the San Antonio Spurs, the team announced on Thursday. 

TNT's David Aldridge reports the deal is worth $5 million next season and includes a player option for the 2016–17 season. Duncan's contract comes at a relative discount as San Antonio reshuffles its cap space to sign free agent LaMarcus Aldridge and re-sign Kawhi Leonard to max contracts and to bring back shooting guard Danny Green.

The Spurs also announced the trade of center Tiago Splitter to Atlanta on Thursday, as well as the signing of Aldridge.

ESPN's Marc Stein reports San Antonio's next steps will be the new contracts for Leonard, Green, Manu Ginobili and free-agent signing David West.

Duncan, 39, averaged 13.9 points, 9.1 rebounds and two blocks last season for the Spurs. 

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- Jeremy Woo