Mike Monroe of the San Antonio Express-News reports:

Spurs will Theo Ratliff to Bobcats

The NBA’s trade deadline nearly came and passed Thursday with the Spurs staying on the sidelines, but a last-minute deal that will send Theo Ratliff to the Charlotte Bobcats was awaiting official NBA approval late Thursday afternoon, according to league sources.

The Spurs are expected to receive a future draft pick from the Bobcats, giving them some relief from the luxury tax they will have to play this summer. Under NBA collective bargaining rules, only $825,497 of Ratliff’s veteran minimum salary of $1.3 million counted against their salary cap. Combined with the recent buyout of Marcus Haislip’s two-year deal, the Spurs will have saved about $1.7 million in luxury tax payments.