A lot of words that say; well, not much of anything.
It makes no sense to wait for Oden since he will not be available until next summer at best. Oden is a long term option for the Spurs. They can sign Baynes now and, if they think they have a chance for Oden, they have time between now and summer to rework the roster to make room.
Also, I think that the max expectation for Baynes is to be a quality backup not a starter. Even with Oden he will still be on the roster and one or more of the other backups will be cut/traded/waived/let walk to create the space (assuming he lives up to expectations).