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Originally Posted by Schilly
It could indeed, but...Toronto will be at about 43mill this summer with PO picked up and their top 5 pick. So they are maybe 9 mil under the cap. Now here's an interesting wrinkle. Mike James is going for 17ppg 3rpg and 5apg and has a Player option (value 3.8mil) if he opts out they will have to be looking at re-signing him for 5-6 mil to start which while minimal brings it up to up to 45.5 mil or so.
Then there is the Cap hold thing for James, if I understand it right his cap hold is what the maximum he can make would be, based on what I can tell his cap hold (until signed) is about 10mil (300% of previous contract year) so...Torontos effective cap until James is resigned would be about 50mil (subtract his 3.8 from the 43 mil figure)
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If James decides not to pick up his player option, the team would hold Early Bird rights on him, meaning that he would count (as an unrenounced FA) at 130% of his 2005-06 contract, or about $4.3 million.
That would bring Toronto up to about the $43 million in team salary that you mention, leaving them with about $7 million in cap room to make a run at Joel or any other FA.
A new thought...Keeping Joel
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