BC needs to use the TPE if it means gaining an asset like the 4th overall pick. I'm not a Baron Davis fan and his contract still has two years remaining, but the possibility of having the 4th and 5th overall picks is very appealing even in a down year for the draft. The Raps could potentially take Walker/Knight at #4 and then decide on whether to take Valanciunas, Kanter, Leonard, or Vesely with the #5 pick. Those would be two nice pieces to have.
The Raps, though, don't have enough room under the TPE to absorb Davis' entire contract. Sessions' contract, though, does fit. The Raps could also take on another smallish contract if necessary.