Murray was injured in the second quarter of Sunday's preseason loss to the Houston Rockets.
"Devastating injury for him and the team, but life goes on," coach Gregg Popovich said. "Everybody will pick up, and we will do the best job we can to carry on without him."
Driving to the basket with James Harden guarding him on a fast break, Murray winced in pain just as he planted to explode toward the rim and crashed to the floor face-down. He remained there while staffers rushed to his aid. San Antonio's medical staff brought out a wheelchair to cart Murray off the court, but the point guard waved them off.
Murray then rose to his feet as the crowd at the AT&T Center broke into applause. Murray walked off the court and headed to the locker room with Spurs medical staffers in tow.
Murray's diagnosis marks yet another injury for San Antonio's backcourt. The club announced Saturday that rookie guard Lonnie Walker IV underwent an MRI that revealed a right medial meniscus tear, which is expected to keep him out of action for six to eight weeks after he undergoes surgery Monday in San Antonio.
Murray, meanwhile, entered training camp with high expectations coming off a promising season as San Antonio's starting point guard, when he took over for expected future Hall of Famer Tony Parker.
Following the departures of Kawhi Leonard (trade), Manu Ginobili (retirement) and Parker (free agency), Murray was expected to lead a revamped Spurs roster that also features LaMarcus Aldridge and DeMar DeRozan, who was acquired in the Leonard trade.
Murray showed up at the Spurs facility on Monday and spent time around his teammates.
"He definitely cares in his own development, he definitely cares as a whole team and how much progress we make together," said point guard Patty Mills. "He was a big part of that last year with his development, and obviously a big part going into this year. He knows. He understands. We all know. But it was good for him to see us as a group, and for him to see that we've got his back throughout this tough time."