Nets are $1M under the tax threshhold. And they have 15 players under contract, meaning someone would have to be traded, cut...and or bought out...to sign Chris Webber.
--They have $3 million remaining from their Mid-Level Exception [$5.2 million - $1.4 million for Eddie House, $800,000 for Mile Ilic]. MLE can be used in multi-year contracts. Using the full $3 million would cost the Nets $5 million because it would put them $2 million over the threshhold: $3 million salary + $2 million in luxury tax. A trade of a contract for a draft pick could help reduce the tax burden.
--They have their full $1.8M Lower-Level Exception. LLE can be used in one- or two-year contracts. The LLE would cost the Nets $2.6 million: $1.8 million in salary luxury tax of $800,000 in luxury tax. Again, a trade could help.
(Both MLE and LLE become pro-rated as of January 10, meaning that every day they're not used, there is a slight reduction in what can be paid out.)
--Vets minimum of $1.1 million, of which the league pays more than $300,000. Up to two-year contracts can be signed with vet minimum. Contracts can include player or team option. No tax.