With Bayless' QO being extended, thought I'd post some more details.
Jerryd Bayless: $7,605,700 cap hold ($4,001,917 QO)
Amir Johnson $6,050,000
Linas Kleiza $4,600,000
DeMar DeRozan $3,344,250
Jonas Valanciunas: $2,812,200
James Johnson $2,812,006
Ed Davis $2,207,040
Terrence Ross $2,136,100
Gary Forbes $1,500,000
Solomon Alabi $890,000 (TO)
Roster slot cap hold (slot 13): $490,180
Total without Bayless: $47,893,638 - 10.1M cap space
Total with Bayless: $55,009,458 - 3M cap space
Salary Cap: $58 million
Tax Threshold: $70 million
- Jonas Valanciunas: last year's 5th slot rookie salary
- Note that the cap hold for rookies is their rookie scale salary, but rookies are typically signed to 120% of their rookie scale - as such, it would be best if they are signed after the other free agents. They will likely be "unofficially" signed early, then actually sign the papers later in July.
- Alabi is on a Team Option, so the Raps can drop him. But they have to do so by tomorrow, I believe. It would increase their cap space by ~0.4M, as his cap hold would need to be replaced by an empty roster slot cap hold.
Amnesty candidates and resultant cap space (with/without Bayless cap hold):
Jose: 20.7M / 13.6M
Amir: 16.2M / 9.0M
Kleiza: 14.7M / 7.6M
Also note how expensive Bayless' cap hold is. If the team plans to re-sign him to a MLE level or somewhat lower contract, that should be their first move, to free up a couple million dollars in cap space. So you can add the difference between 7.6M and whatever he signs for to all above "with Bayless" numbers if they are smart. Assuming 5 million starting, that's an additional 2.6 million in cap space. Nothing to sneeze at.
So the most I can see in operable cap space, is if they release Alabi (he could always be re-signed as a free agent to the minimum), renounce their rights to Bayless (and Weems, who I've completely ignored in this, assuming they will waive his rights), and amnesty Jose (or trade him into cap space), is 21.1 million.
For information, Weems is currently a cap hold of $1,059,389 if a QO is extended. If it isn't, the cap hold is $854,389, but they may as well waive his rights if they don't restrict him.