OKAY, SO HE COUNTS AGAINST THE CAP. BUT HE DOESNT HAVE A CONTRACT– SO HOW MUCH DOES HE COUNT?
150% of his previous year’s salary, if that salary was below or at the league average; or 200% of his previous year’s salary, if that salary was above the league average. For example, if his salary last year was $1 million, he counts as $1.5 million (150% of his previous year’s salary) against the cap now. If his salary last year was $4 million, he counts as $8 million (200% of his previous year’s salary) against the cap now. 7. WHAT IS “RENOUNCING”? When a team renounces its rights to a free agent, that player no longer counts against that team’s cap. The team is then forbidden to sign that player (even without using the Larry Bird Exception) until the passage of some deadline which is approximately 55 days after the start of the regular season. The team renouncing the player is also forbidden from acquiring the player by a trade before that deadline. 8. MY TEAM HAS SEVERAL PLAYERS WHO WILL BE FREE AGENTS AT THE END OF THE YEAR. CAN MY TEAM CLEAR CAP ROOM BY LETTING THEIR CONTRACTS EX
