López is under contract until 2023 as things stand. Obviously things may change on that front as the dust will settle and the plan going forward will be formulated, but as it presently appears they have 2 Grand Tour GC riders, 3 if you count Valverde.
It wouldn't surprise me if Movistar terminates Lopez's contract and even if they don't I can't see them trusting him enough to give him leadership in races that are important to them.
I think this Vuelta has solidified Mas as the one who will (if he hasn't already) taken the reigns of team leadership from Valverde.