Well, we obviously don't have to use all of our cap space on a renegotiation.
The entire reason that nobody ever thought that Sabonis would sign an extension is that he would be eligible for a contract starting a bit north of $40M as a free agent next year, but we could only give him an extension starting at something like $23.5M (120% of previous salary). That's an obvious no-go.
But with the renegotiate-and-extend gambit, paired with the new CBA's 140% raise in the first year of the extension, there's a lot of room there. It looks like we could give Sabonis a $10M renegotiation-raise to $29.4M for this season, and then extend starting at 140% of that - that's $41M to start. Domas' max salary is 30% of the cap - this year that would be $40.8 but the actual value would be based on next year's salary cap, which we don't know yet. At any rate the 10% cap smoothing introduced in the new CBA means that 30% of the cap can't be any higher than $44.9M - we'd have to give Sabonis about $12.5M in the renegotiation to fully cover that possibility.
The interesting thing is that Domas appears to be eligible for a Designated Veteran extension, which he appears to be eligible for because he was named to the All-NBA third team this year. So...technically we could give him the DV extension (up to 35% of the salary cap in the first season) without having to worry about the 140% rule and therefore without a renegotiation this offseason. It seems odd to blow cap space to avoid using the DV, but I guess there must be reasons. Do we really think we're going to have two guys (Fox + ??) that will be on the DV, and leave Sabonis off it?
Anyway, even with a renegotiation we should be able to retain about $20M of cap space for other purposes.
The entire reason that nobody ever thought that Sabonis would sign an extension is that he would be eligible for a contract starting a bit north of $40M as a free agent next year, but we could only give him an extension starting at something like $23.5M (120% of previous salary). That's an obvious no-go.
But with the renegotiate-and-extend gambit, paired with the new CBA's 140% raise in the first year of the extension, there's a lot of room there. It looks like we could give Sabonis a $10M renegotiation-raise to $29.4M for this season, and then extend starting at 140% of that - that's $41M to start. Domas' max salary is 30% of the cap - this year that would be $40.8 but the actual value would be based on next year's salary cap, which we don't know yet. At any rate the 10% cap smoothing introduced in the new CBA means that 30% of the cap can't be any higher than $44.9M - we'd have to give Sabonis about $12.5M in the renegotiation to fully cover that possibility.
The interesting thing is that Domas appears to be eligible for a Designated Veteran extension, which he appears to be eligible for because he was named to the All-NBA third team this year. So...technically we could give him the DV extension (up to 35% of the salary cap in the first season) without having to worry about the 140% rule and therefore without a renegotiation this offseason. It seems odd to blow cap space to avoid using the DV, but I guess there must be reasons. Do we really think we're going to have two guys (Fox + ??) that will be on the DV, and leave Sabonis off it?
Anyway, even with a renegotiation we should be able to retain about $20M of cap space for other purposes.