So, just a quick review - we do NOT have a lot of cap space to actually work with this summer for free agency. Not counting Bacon, who is not guaranteed until Aug 9th, we currently have $105.3M in salary for 10 players under contract, and "cap holds" for the two, first round picks. The full list/salary are below. The cap is around $112.4M, leaving us about $7M to work with.
We do have some other paths to get us some larger options. Resigning any of our own free agents might bring us right up to or over the cap, which means the maximum we would then have to work with would be the Mid-level Exception of about $9.5M.
We could do a trade and bring in salary above the cap by using the Trade Exception we got for Fournier, worth up to $17.5M. This might be useful if someone else is trying to create additional cap space to chase a free agent, i.e. the Pelicans to chase Kyle Lowry. To use the TE on a free agent, we would have to work with their "old" team to do a sign and trade, where they do the contract and immediately trade him to us for the TE. I think that is an option. I believe we could also do a sign and trade where we resign Otto Porter, Jr. and immediately trade him for other players/pieces. The list below is the player (age), current jersey #, roster count, 2021-22 salary/cap hold.
Player
Plyr #
Gary Harris (26)
14
1
$20,482,143
Jonathan Isaac (22)
1
2
$17,400,000
Markelle Fultz (22)
20
3
$16,500,000
Terrence Ross (29)
31
4
$12,500,000
Mohamed Bamba (22)
5
5
$7,568,743
Wendell Carter, Jr. (21)
34
6
$6,920,027
Cole Anthony (20)
50
7
$3,449,400
Michael Carter-Williams(28)
7
8
$3,300,000
Chuma Okeke (20)
3
9
$3,277,080
RJ Hampton (20)
13
10
$2,303,040
Rookie Pick #5
11
$6,593,040
Rookie Pick #8
12
$5,007,840
So, just for an example, if we resigned Ennis and Wagner for a combined $7.1M, which puts us at the cap, and gives us 14 players on the roster, our options for adding a 15th player would be one of the following:
Mid-level exception - $9.5M, or
Bi-Annual exception - $3.7M, or
Veteran Minimum, or
A trade using one of our trade exception - Fournier $17.1M, Aminu $4.27M, or Clark $2.1M (can not be combined)