 Spanoulis was traded by the Rockets, to the San Antonio Spurs, on July 12, 2007, along with a 2009 second-round draft pick, in exchange for center Jackie Butler, and the rights to Argentinian power forward Luis Scola.On August 19, 2007, the Spurs released Spanoulis, giving him the chance to return to Greece to play for Panathinaikos Athens, as he had requested.This was officially announced on August 23, 2007.