A spacer implant designed for placement between the bones of a joint, which includes soft tissue components. The spacer includes a spacer body positionable between the bones and defined by an outer periphery. The spacer also includes at least one tether. Each of the tethers has a first end fixed to the spacer body and a second end extending outwardly from the outer periphery of the spacer body. The second end of each of the tethers is adapted to be fastened to any of the bones or the soft tissue components of the joint.