You're not paying attention, with Mulcahy back, there's 6 guards with Spencer. There's no room for 6 guards.
The notion that we are without a shooting guard is absurd. If you told me Griffiths wasn't coming in, then I would be concerned.
I wouldn't pay Spencer big money to stay, he's not more valuable than Griffiths, or other guards like Fernandes, Simpson.
The roster needs a 4/5, not asking Mulcahy or Griffiths to play the 4, because Spencer is your 1 position player, who can't play the PG or isn't a combo guard.