The Spurs are exploring the feasibility of making a free agent run at Paul, and the Los Angeles Clippers regard the threat of San Antonio signing him as a legitimate concern, league sources told ESPN.
The Spurs presently don't have salary-cap flexibility, but the prospect of adding Paul to the frontcourt duo of Kawhi Leonard and LaMarcus Aldridge could potentially create a star trio that closes the gap on the Golden State Warriors, ESPN reported on Saturday.
The Clippers still are regarded as favorites to retain Paul and fellow free agent-to-be Blake Griffin when they hit the open market on July 1.
The Spurs would be counting on the Clippers' inability to overcome injuries and reach the conference finals even once in Paul's six seasons in Los Angeles to give them a chance.
The 32-year-old Paul is eligible for a five-year deal worth an estimated $205 million from Clippers owner Steve Ballmer this summer because of the NBA's most recent labor contract favoring stars in Paul's age bracket, according to ESPN.
The most the Spurs can offer is a four-year deal worth just over $152 million, and the team would have to make several roster moves to create the needed cap space to offer a max deal to Paul.
Paul averaged 18.1 points, 9.2 assists and 5.0 rebounds in 61 regular-season games this season.
The Utah Jazz eliminated the Clippers in a first-round seven-game series, with Paul averaging 25.3 points and 9.9 assists.