The Spurs added depth by making official their signing of veteran guard Kevin Martin, the team announced Wednesday.
Rasual Butler was waived to clear roster space.
MORE: LeBron James, trapped in Cleveland | Warriors don't need Kevin Durant
Martin committed to the Spurs last week, but the team had not decided on which player would be waived to make room for Martin. Aside from Butler, Matt Bonner was also on the chopping block.
The Spurs also recently signed point guard Andre Miller.
Martin, 33, was waived by the Timberwolves on March 1 after less than three years. This season he averaged 10.6 points, 2.1 rebounds and 1.2 assists in 21.4 minutes over 39 games.
Martin is one of five active players with more than 1,000 3-pointers while shooting at least 38 percent. Stephen Curry, Kyle Korver, Mike Miller and Dirk Nowitzki are the others.