The San Antonio Spurs are pulling their qualifying offer for Lonnie Walker IV, per Shams Charania of The Athletic.
The Spurs are pulling the qualifying offer on Lonnie Walker IV, making him an unrestricted free agent, sources tell @TheAthletic @Stadium. Expect a strong market for Walker immediately.— Shams Charania (@ShamsCharania) June 30, 2022
This move comes less than an hour before free agency begins and makes Walker an unrestricted free agent, potentially spelling the end of the road for the 23-year-old shooting guard in the 2-1-0.
The soon-to-be fifth-year swingman averaged 12.1 points, 2.6 boards, and 2.2 assists per game on .407/.314/.784 shooting splits last season, mostly coming off the bench as a scoring sparkplug.
The Spurs are still responsible for his $13.3M cap hold until they renounce his rights, though this leaves the door open for a sign-and-trade scenario in which they would not walk away empty-handed.
Charania also reports that he “expects a strong market for Walker.” While his time in San Antonio was a roller coaster, the former 18th overall pick of the 2018 NBA Draft might still have some untapped potential.
Though free agency officially starts at 5 PM CT, teams are not allowed to sign contracts until the moratorium period lifts on July 6. Players are free to renege on verbal agreements before that date without penalty.