Max cap space is if we renounce Hart, Simons and Nurk.
Seems like Hart and Simons provide much more value at their cap hold, so the space should really be reported as likely at ~35 million. So possibly could sign a max free agent in theory.
But what is likely? I'd say;
1 Probably most likely the team stays over the cap and keeps trade exceptions, MLE, cap holds, etc.
2 Or the team decides to go the OKC Thunder route and absorb contracts in trade for youth/picks. This strategy makes more sense if the team moves to trading away Dame and/or tanking again next season.
3 Signing an impact free agent above non tax MLE is third and least likely scenario