Guaranteed Salaries: $60,414,642
Draft Pick Cap Holds: $3,227,100
Maximum Cap Space: $29,127,953
The Wolves are going to have more than $22 million in space no matter what they do with the current free agents, but they can carve open a bit more if they do the following:
-Waive the non-guaranteed salaries of Greg Smith and Damjan Rudez. It’s been reported that both have already been waived by the Timberwolves.
-Renounce their Early Bird rights on Justin Hamilton and Robbie Hummel
-Renounce their non-Bird rights on Tayshaun Prince, Arinza Onuaku, and Othyus Jeffers.
-Renounce their $5 million trade exception from Chase Budinger.
Of the above, Minnesota really only has to decide if they want to bring back Prince. Prince is an unrestricted free agent, so the Timberwolves may face a bit of competition for his signature, if they do opt to bring him back. Kevin Garnett also needs to decide on his future; he’s due $8 million next season if he does not choose to retire. If he does, that opens up another $8 million in cap space for the young Wolves.
Ricky Rubio’s future is the darkest cloud hanging over Minnesota this summer. Should they find a trade partner for Rubio, they could open up as much as $13.55 million in additional space, though it’s more likely that they would want to get back another player of Rubio’s quality in a trade, rather than dumping him to open up cap space in a summer where almost every team has space.
Next: New Orleans Pelicans