If this is suppose to be in the trade forum - sorry but I'm sure someone will move it.
There are a few rumours going around that CLE is holding their TPE with the intention of using it to help facilitate a trade between NJ and DEN. CLE is, reportedly, willing to take on salary (my assumption is Troy Murphy's expiring $11.9M contract) in exchange for a first round pick of which NJ has their own this year and next, LAL this year, GSW next year, and HOU next year (a total of 5 picks for '11 and '12).
DEN is approximately $12.4M over the luxury tax. Any trade that brings back $12.4M less would save them a dollar for dollar tax and they would gain a few more million by being a part of the group of teams under the luxury tax who divy up the luxury tax from those above.
I know NJ is in the same division as TOR but it would appear that Carmelo is going to end up in NJ or NY next season anyways. Personally, I'd rather see him in NJ than NYK to team with Amar'e, Felton, and D'Antoni's system.
I am also aware TOR only has $12.2M of TPE left and DEN would still be over but given their assets, they would easily be able to make a trade to rid themselves of $500K.
So my question is: if you were BC would you try and bump CLE from any trade discussion to obtain one of the first round picks NJ has this year or next?
*EDIT* TOR would then have to shed around $5-6M to get themselves under the luxury tax.