Raskin quotes a "league source" saying "the Nets aren’t expected to amnesty Outlaw AND renounce Humphries unless they absolutely need the cap space," indicating they would do one or the other. Raskin did not indicate which is the more likely but if they renounce Humphries' rights, they can still sign him, but to a lesser contract.
If the Nets waive Outlaw and his $7 million salary, they'd have $22.5 million to $23 million in cap space.
- 2011 NBA Free Agency Diary - Alex Raskin - HoopsWorld
Source: Amnesty for Outlaw is no guarantee - Mike Mazzeo - ESPN New York