Winderman: Cap holds change free agent equation

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Hold on. No, seriously, hold on.

Because all is not as it appears when it comes to the heavy hitters and free agency this summer.

With the passing of the trading deadline and now the passing of this week’s waiver deadline for postseason eligibility, we have a much better read on where teams stand entering the July 1 start of NBA free agency.

We certainly know the heavy hitters.

Based on the accounting of one team executive, factoring in salaries for 2010 first-round picks, nine teams will enter the offseason with more than $10 million in cap space: New York, at $31.65 million, New Jersey at $23.32 million, Miami at $21.35 million, Washington at $19.49 million, Chicago at $18 million, Sacramento at $16.85 million, the Clippers at $15.36 million, Minnesota at $12.46 million and Oklahoma City at $11.5 million.

Yes, you’ve seen other numbers elsewhere, because no one truly knows where the 2010-11 cap will fall or how teams view their own impending free agents, as well as players with option clauses.

But even with the aforementioned space figures, all is not always as it appears, which is where the “hold on” part enters the equation.

Ah, those pesky cap holds.

Basically, if you plan to re-sign one of your own impending free agents and retain the right to give them a typical free-agency raise, you have to deduct their “cap hold” from your impending space.

The formal definition, if you must: “Players who finished their last year of their contract and do not re-sign with another team will have a salary-cap hold for that season.

The cap holds for each player continue to count against the team’s salary cap until they are renounced. If the player is renounced, then he can only re-sign with that team for either remaining space under the cap or the minimum.”

It is why, if the Knicks follow up with their plan to sign two top-tier free agents, David Lee has to be sacrificed.

His cap hold is $10.5 million.

Of course, not all cap holds matter. Al Harrington, for example, has a $15 million cap hold, and no one is holding their breath about the Knicks carrying that on their books for a minute longer than necessary.

The point is that to get free agents you often have to sacrifice your own free agents.

To that end, from the salary book of one NBA team, we offer a look at other cap holds not currently figured into the space of the league’s 2010 heavy hitters.

Chicago: Jerome James, $9.9 million; Brad Miller, $18.4 million; Hakim Warrick, $2.8 million; Joe Alexander, $3.6 million; Flip Murray, $.24 million.

L.A. Clippers: Drew Gooden, $5.5 million; Mardy Collins, $5.6 million; Craig Smith, $4.6 million.

Miami: Quentin Richardson, $13.1 million; Jermaine O’Neal, $24.2 million; Udonis Haslem, $10.7 million; Dorell Wright, $5.8 million; Yakhouba Diawara, $1.2 million.

Minnesota: Damien Wilkins, $7.3 million; Darko Milicic, $11.3 million; Alando Tucker, $1.9 million.

New Jersey: Josh Boone, $6.2 million; Trenton Hassell, $8.7 million; Bobby Simmons $16.2 million.

New York: Chris Duhon, $7.8 million; Al Harrington, $15 million; David Lee $10.5 million; Sergio Rodriguez, $4.7 million.

Oklahoma City: Etan Thomas, $11.9 million.

Sacramento: None of note.

Washington: Javaris Crittenton, $2.3 million; Randy Foye, $10.1 million; Josh Howard, $16.2 million; Mike Miller, $14.7 million; Fabricio Oberto, $2.4 million.

Again, what matters most is that none of the aforementioned players can be retained if their team opts to maximize its cap space.

Ira Winderman writes regularly for NBCSports.com and covers the Heat and the NBA for the South Florida Sun-Sentinel.

PBT Extra: Three things to watch with Boston in wake of Hayward injury

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Gordon Hayward is going to have surgery on his ankle and leg, which should not be a surprise to anyone who saw the gruesome injury to his leg just 5:15 into his Celtics career. There is no timetable for his return yet, maybe he makes it back for the playoffs, but the Celtics are not going to rush him and he may well miss the entire season.

What next for Boston?

In this PBT Extra I cover the three things to watch for from Boston, which in the short term could mean the Kyrie Irving show. Longer term, not much changes.

Gordon Hayward addresses Celtics and fans from hospital bed (video)

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Gordon Hayward broke his leg early in his Celtics debut – a devastating injury. He’s preparing for surgery tonight, per Jeff Goodman of ESPN:

First – after a perfect introduction from Marcus Smart – Hayward addressed the Boston crowd from his hospital bed before tonight’s game against the Bucks.

Hayward:

What’s up everybody? Just wanted to say thank you to everyone who has sent me your thoughts and prayers. I’m going to be alright. It’s hurting me that I can’t be there for the home opener. I want nothing more just to be with my teammates and walk out onto that floor tonight. But I’ll be supporting you guys from here and wishing you the best of luck. Kill it tonight. Thanks, guys.

At least this nice moment (and an outpouring of support) came out of such a gruesome injury.

And if Smart keeps setting up his teammates so well, maybe the Celtics’ offense will keep humming.

76ers coach Brett Brown: Joel Embiid’s minute restriction could quickly rise

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Joel Embiid‘s minute limit of below 20 bummed out everyone (especially Embiid).

But good news could be on the way.

Keith Pompey of The Inquirer:

The 76ers look like a borderline playoff team, Embiid’s health the biggest variable. There’s a direct correlation between his ability to stay on the court and Philadelphia’s postseason chances.

Plus, he’s just so darn fun to watch. The more he plays, the bigger victory it is for every viewer not rooting for the 76ers’ opponent that night.

Report: Bucks have offered second-round pick as enticement for Rashad Vaughn trade

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John Henson was on the trade block. Greg Monroe seems permanently affixed there.

Another player the Bucks apparently want to deal? Rashad Vaughn, who was the No. 17 pick in 2015.

Adrian Wojnarowski of ESPN:

Milwaukee has been working to trade several players to clear salary-cap space, including guard Rashad Vaughn and center John Henson, league sources said. The Bucks have been willing to attach a second-round pick in offers for Vaughn, league sources said.

It’s unclear whether the Bucks are still as motivated to move Vaughn. They slid under the luxury-tax line by stretching Spencer Hawes. One-time target Richard Jefferson already signed with the Nuggets. A roster vacancy and cap savings might not matter as much anymore to Milwaukee.

But Vaughn has struggled in two NBA seasons. The Bucks might be better off trying to develop someone else, even a D-League player, over the 21-year-old Vaugh.

Vaughn is due $1,889,040 this season. He faces a $2,901,565 team option for next season, which his team must decide on by Oct. 31. It seems unlikely that will be exercised.

This is what happens when you draft players for the wrong reason.