i think a little blurb on raptors specific situation can help. all calculations done from cbafaq.com and reported numbers on the interwebs.
new source: http://www.basketball-reference.com/...#payroll::none
Since 2012 going into 2013,Code:Player Cap Hit 2013-14 Signed Using Rudy Gay* $16,460,538 $17,888,931 Bird Rights Bargnani* $10,000,000 $10,750,000 Bird Rights Landry Fields* $6,250,000 $6,250,000 Cap Room Amir Johnson* $6,000,000 $6,500,000 Bird Rights Kyle Lowry* $5,750,000 $6,210,000 Bird Rights Linas Kleiza* $4,600,000 $4,600,000 MLE Valanciunas* $3,374,640 $3,526,440 1st Round Pick DeMar DeRozan* $3,344,250 $9,500,000 1st Round Pick Aaron Gray* $2,575,000 $2,690,875 Room Exception Terrence Ross* $2,563,320 $2,678,640 1st Round Pick Telfair* $1,567,500 MLE John Lucas* $1,500,000 $1,567,500 Cap Space Alan Anderson* $854,389 Minimum Salary Pietrus* $698,589 Minimum Salary Quincy Acy* $665,000 $788,872 Cap Space Dominic McGuire $992,680 Team Totals $67,195,906 $72,951,258
Rudy Gay's salary increased $1.42 million.
Bargs increased $750,000
Lowry increased $460,000
Derozan's new contract increased +$6.15 million
Which effectively puts us over the luxury tax by $2.65 million.
NBA Salary Cap (2012)
$58 044 000
NBA Luxury Tax Level (2012)
$70 307 000
Free Agent Exceptions
Non-tax MLE/Bi-annual can sign $1.35 million contract, the difference between our current tax level and the tax apron ($4 million above tax level). Their normal amounts are $5.15/$2.01 million respectively. Though this puts a hardcap on us.
Taxed MLE can sign $3.18 million contract.
And minimum salary contracts.
Over-tax trade exception is 125% of outgoing salary + $100,000. So we could get back a maximum of $13.85 million in a Bargs trade scenario. Though that is highly unlikely ...
Raptors can amnesty one player and their salary effectively disappears. Though this players gets put on waivers along with their salary for which Raptors are responsible for, all remaining contract years included. Other teams can claim the player with any bid, the Raptors will have to pay the difference. We can amnesty Bargs but then we miss out on $13.85 million in potential incoming talent from trades as above, and be responsible for the $22 million remaining on this contract minus the another team's bid (... if another team picks him up).
Kleiza ($4 600 000) is the best option to amnesty as there are no remaining years on his contract. Amnestying Kleiza would drop us under the tax level by $1.9 million and allow us to use the full $5.15 million non-tax MLE (but again, hardcap would be in effect afterwards).
Gray ($2 690 875) and Kleiza ($4 600 000) already exercised their options. Lowry ($6 210 000) and Lucas ($1 567 500) still not re-signed.
Raptors management have a complicated job ahead of them. They have to sign 4 new contracts. Another 4 are on the hook (Lowry, Lucas, Bargs, Kleiza), though probably only 3 of them will disappear. There might be some more unexpected movies, so at minimum there will probably be 7 new signings for the Raptors, with upto$13 million available through a Bargs trade, or ~$3 million through MLE.
Reminder these numbers are based on 2012 cap and tax numbers, and may change +/- $1-2 million this year, if they don't stay the same. Also feel free to point out any errors, the CBA is complicated as fuck