Signed to a two-year deal with San Antonio after the team lost to the Miami Heat in the Finals in 2013, Belinelli proved a bargain for the Spurs as he quickly set career highs in field-goal percentage (48.5), 3-point percentage (43.0) and player efficiency rating (15) in 2013-14.
Those numbers tapered off in Year 2 of the deal as Belinelli, 29, connected on 42.3 percent of his shots from the field and 37.4 percent from 3-point range. Belinelli's scoring also slipped from 11.4 points per game in his first year as a Spur to 9.2 points in 2014-15 as the reserve missed 20 games with injury.
A seven-year veteran, Belinelli earned $2.8 million last season and was expected to be seeking a raise in free agency. He provided a spark offensively from the bench with accuracy as a 3-point shooter (39.2 percent over his career).
ESPN.com's Michael C. Wright contributed to this report.