you aren't getting 4.6 mil off the cap with Kleiza, you are only getting 3.4 or so (75%).
And you are keeping that 1.2 mil extra for 3 years, every year.
When you could likely trade him and get full 4.6 mil in cap if he's anything close to healthy.
Btw, do Raptors
even need that cap space?
You'll sign someone better for those 3.4 mil? I don't think so.
It's a small contract. Kleiza is worth it when he's healthy. If not to you, to someone else.
Not to mention, you've already got plenty of cap room coming in, and you probably won't even use it for a while.