Ginobili, Spurs close on 3-year extension

Manu Ginobili(notes) and the San Antonio Spurs are close to completing a three-year extension that would keep the guard from entering this summer’s heralded free-agent market, league sources told Yahoo! Sports.

There are still a couple of significant issues to be resolved within the next 24 to 48 hours, but the two sides have established the framework of the extension – which could be a worth a total of up to $40 million over the three years – and think Ginobili could sign by the end of the week. Ginobili’s agent, Herb Rudoy, is expected to meet with Spurs officials after the team returns from Phoenix.

Spurs chairman Peter Holt made it clear he wanted to re-sign Ginobili, even though the small-market franchise is expected to pay a luxury tax of about $10 million this season. Spurs coach Gregg Popovich and management also want to continue building the team around Ginobili in the wake of his strong play over the past two months.

Ginobili, 32, had last season cut short by a right ankle injury. He also was slowed by problems with his left foot in the 2008 playoffs and later needed surgery after aggravating the injury in the Beijing Olympics.

Since the All-Star break, however, Ginobili has re-established himself as one of the NBA's most dynamic guards, averaging 23.4 points and 5.7 assists over the past 19 games.