Hill had legitimate point guard-caliber passing skills. Those have completely disappeared in his mid- to late-30s. He's still a decent player, but could fall off a cliff at any moment, production-wise. For a tiny deal, I wouldn't mind him around as a "steadying influence" and a hopefully solid reserve for a year.
If we could sign him for the minimum it would be a good move. Every team in the league would probably take him at that price, would we really have a chance over places like Cleveland or Orlando?
We can't give him more than a minimum deal until we've used our cap space. Adding Hill is not worth sacrificing the return of that potential asset, even if it's only draft picks for helping another team get under the luxury tax.
I hope both. Rivers is meeting Hill tonight in Orlando. The team met with Sheed couple days ago in Detroit, both will have offers. (if the want another run at the rings)