1) When do free agents come off a teams cap if they renounce them? At the end of the season, June 30th, another date? I ask because according to Larry Coon teams are eligible to trade once their season ends, but I've not been able to determine whether the Wolves current cap-space would remain unchanged since the trade deadline or if by renouncing Telfair and or Curry we would at this point add millions in cap-space until the cap is recalculated.
I'm pretty up to date on Larry Coon's CBA FAQ, but there are some questions I've never had answered in chat and haven't had any luck locating answers to on the web. I'm hoping the Canis Hoopus brain trust can assist...
2) Did the team actually reach a buyout agreement with Curry and what were the terms? I've read several identical accounts stating the team reached a buyout agreement and then waived Curry, but none have included the buyout numbers. If free agents that are renounced already come off the cap this is irrelevant, but if not the buyout would matter. Per Coon when a team buys out a player only the actual amount of the buyout counts against the team's cap space.
3) When do player's 2011-2012 salaries begin to count against a team's cap instead of their 2010/2011 salaries?
So why do I care? Well near as I can figure it the Wolves have the ability to trade now to position themselves for the draft and free agent market. If free agents do not come off the books until the new cap is recalculated and the Wolves merely waived Curry and paid him his remaining salary without altering his contract (so no actual buyout agreement as was reported) they have $3,768,394 in cap space at this time. On the other hand if their free agents can be renounced and come off the books at season's end they'd have approx $17,998,986 by renouncing Curry and Telfair under the current cap until recalculated. Further, if Telfair and Curry don't come off the books until say June 30th, but a buy amount agreement of maybe $4,500,000 was reached with Curry our cap space would be the difference between his contract and the actual buyout added to the $3,768,394 in hard cap-space we had at the deadline.
Why does it matter? Well $3,768,394 doesn't allow us to do much without matching salaries. On the other hand $17,998,986 would allow us to do things like call the Suns and offer to the 20th pick in this upcoming draft straight up for Vince Carter (who we'd hopefully reach a buyout agreement with immediately for the $4 million he is guaranteed on his contract for next year). Allowing us to buy him out and retain $13,998,986 in cap-space for the second part of the deal. The Suns would avoid a $4 million dollar cap hold, get a $17,552,375 trade exemption and the 20th pick this year. In exchange we would offer then Pekovic and Tolliver/Flynn for Gorat. Additional compensation such as player or Utah's pick next year could be included as necessary.
Not certain this is the sort of deal we go after, but just using it to illustrate the difference between having $3.7 million and nearly $18 million in cap space at the moment.