According to ESPN, Oden will sign a 2 year deal with a player option in the 2nd year. Instead of having Oden's services, the Spurs will now likely roll in to training camp this fall with Aron Baynes and Jeff Pendergraph competing for minutes behind Tiago Splitter. While neither has Oden's potential on defense, they're both proven to be infinitely more durable, and the Spurs are plenty deep at both big man positions.
This also means the Spurs still have an open roster spot. With Oden heading to South Beach, Ryan Gomes heading to Oklahoma City and Mo Williams heading to Memphis, all signs point to the San Antonio heading in to camp with only 14 spots filled. So you could see names like Deshaun Thomas and Hollis Thompson on the training camp roster as the Spurs look to find their back up small forward on the cheap.