We've all heard the rumors that there may be an amnesty clause in the new CBA which would allow us to wipe one contract (Travis Outlaw) from our books all together. Unlike the old Allan Houston rule, teams were allowed to waive a player, but their cap hold still applied, but they would not have to pay luxury tax on that salary. In this situation, Travis Outlaw the player and the contract would be gone and we would theoretically have $7m more in cap space.
Now, wouldn't this hurt NJ, more than help?
Right now, we project to have about $18m in cap space, or more than any other teams except Sacramento, Indiana and Denver (if Nene opts out). That's a good position to be in.
Now, say we waive Outlaw and end up with $25m. Good, right?
Well... keep in mind other teams will be able to do the same thing, and a few things in particular can happen
a. Other teams will waive larger more burdensome contracts and possibly give themselves more cap space than NJ, or simply put themselves in a much better position than they were before.
b. Teams that may not have had cap space this summer, may be able to waive a large contract and all of a sudden be a major player in free agency, and a threat to us.
c. Teams that have free agents that we may want, all of a sudden can have much more room to retain those free agents.
Philly has about $54m in salary committed next season, not including Thadeus Young. If they are able to dump Elton Brand's $18m, they are down to $36m in salary. Now, not only are they able to keep Thad Young very easily, they still have plenty of money to spend in free agency.
Point is, while I'm not sure there will be an amnesty clause, or know how it will be set-up, I think it will be more advantageous to other teams than us, and may actually put us at a disadvantage relative to others.