After trading Quarteman and renouncing Ezeli, we're at about $134.6 million - not counting our rookie cap holds. If we also renounce Connaughton, we'd be just a hair under $133 million. plus roughly $4.5 million in cap holds for our two first round picks. That's right around $137.5 million.
Based on the latest salary cap projection of $99 million, the luxury tax threshold is $119 million and the apron is $123 million. We're basically $18.5 million over the tax threshold, or $14.5 million over the apron. We need to shed either Crabbe or Turner or a combination of two contracts without taking back much, or any salary in return just to get under the apron.
Crabbe for a future draft pick (i.e. no incoming salary) is the only single contract that gets us under the luxury tax threshold. That assumes we also cut loose Patty C and the team we are trading with is at least $21.275 million under the cap due to Cabbe's trade kicker.
BNM