I clicked the link and read the whole article. One part, that isn't quoted here, seems wrong....
Since Bayless is Toronto's own free agent, though, things are much easier dealing with him. Firstly, because of his Larry Bird rights, the Raptors can spend all of their free agent cap space on other free agents (or use it to absorb salary in trades) and then go over the cap to re-sign Bayless.
Since when can you spend cap space on other free agents and then go over the cap on your own players? Wouldn't Bayless be a cap hold that needs to be renounced if the Raps want to use the capspace? Don't you lose the bird rights if you renounce the cap hold? I really need to find a copy of the new CBA.