Kenny Grant, Bonner's agent, said Friday the deal will likely be finalized next week and that Bonner is happy to be staying in San Antonio. Terms of the contract were not available.
Bonner became a free agent this summer after four seasons with the Spurs. He averaged 7.0 points off the bench last season as their 3-point specialist, hitting 39 percent from behind the arc.
The 30-year-old is the first summer signing for the Spurs. Topping their offseason wishlist is finally luring center Tiago Splitter from Spain after drafting his rights in 2007.