From espn:
2016 coming home to roost
Though front offices have certainly seen it coming, even the most grizzled among them are impressed by the sheer tightness of the free-agent market. The money and years are simply not there for anyone other than top-flight talent, somewhat a function of the decision not to implement cap smoothing.
"2016 basically hosed two years worth of free agents," one exec said. "The restricted free agents are really feeling it."
But it's not just the fact that 40 percent of player salaries are being paid from deals that originated in 2016. A confluence of other factors exists. For one, the dominance of the Warriors has persuaded several teams to lay off big deals. There's also a strong belief that teams are getting smarter about the allocation of resources, and the majority of contracts are for one-year terms. An interesting wrinkle in this regard: The league loves to talk about the value of roster continuity but doesn't love continuity enough to make it a priority when there's legal tender and cap space at stake.