Correct me if I’m wrong, but if we keep the cap hold on Trey then we can go over the cap to resign him with our Bird Rights. And his cap hold is tiny. I think it is less than $2M. So we can renounce him and have like $36M in cap space, or hold him (and have the ability to go over the cap to sign him) and have like $34M.
You can renounce cap holds at any time, so I am guessing we will hold his cap hold (and Barnes too) until we have another player lined up, or they (Barnes and Lyles) find another team.
So ideally, you use roughly $34M on free agents (1-2 good free agents, and perhaps a small portion toward the Domas extension), then you sign Sasha to the room exception, and then use your Bird Rights to resign Trey once you hit the cap, provided you didn’t waive his hold.