Using the sportac free agency team management tool
https://www.spotrac.com/nba/cap/, I went in to each team's page to see how likely they were to be active in free agency. I used my own judgements regarding team and player options, but tried to open as much cap space as reasonably possible. I renounced Rose but guaranteed Robinson for the Knicks as an example.
A few things stood out. Because capped teams get a 10 vs 5 million exception, it doesn't make sense for a lot of teams to renounce their players to enter free agency. That limits the amount most teams can offer free agents. Miami is a good example of a team that can open a little space in free agency but at the cost of much of its depth.
The second thing, a lot of teams free agency plans depend on restricted free agency. Most of the Knicks space depends on them presumably declining to protect Frank in free agency. The Hawks won't have space unless they decide not to retain John Collins.
Lastly, legitimate free agency money is scarce! 3 teams will have enough space to sign a 30 million player and one more team has a 20 million dollar slot. Getting a sign and traded free agent triggers the hard cap, putting a lot of pressure on a teams ability to keep its other free agents. Its not something teams want to do.
Here's the breakdown:
Eastern Conference
ATL- above cap as long as they plan to keep Collins. If they do will likely resign Williams. Losing both opens a mere 15 million.
BOS- no path to free agents except mle, will try hard to resign Fournier
BKN- no path to free agents except mle
CHA- a tale of 2 RFAs, Graham with the 4 million cap hold and Monk's 16 million hold but a better fit. Releasing opens 20 million in FA.
CHI- can open about 20 million by releasing thad young and lauri markannen. It seems more likely they will try to keep both.
CLE- cap space for free agents totally dependent on how Jarrett Allen's contract plays out. Would still only open an MLE equivalent amount.
DET- still suffering from the revenge of Blake Griffin and no path to free agency except mle
IND- over the cap, no path to free agency except mle
MIA- can open 18 million in cap space while protecting Nunn and Robinson. But that number gets eaten up as soon as they sign. It also hurts renouncing Oladipo to open that space. Dragic and Iggy have huge team option years. They have 5 guys signed for next season. Looks like the music may have stopped.
MIL- no path to free agents except mle
NYK- can open up to 51 million, 42 more likely if they decide to keep Rose.
ORL- signing their two first round picks will eat up most of their cap room.
PHI- no path to free agents except mle
TOR- free agency depends on Gary Trent Jr. 'S deal. If they keep him will be better off using the mle.
WAS- no path to FA except MLE
Eastern round up:
Teams with legit space: NYK (40+)
Teams with RFA issues before FA: ATL, CHA, CHI, CLE, MIA, TOR
Teams with only MLE: BOS, BKN, DET, IND, MIL, PHI, WAS
Western Conference:
DAL- their only way to space is by renouncing their rights to THJ, opening about 20 million. Or they can keep THJ and use the mle. Option b sounds more likely.
DEN- would have to renounce everyone to open up 10 million, so will operate above the cap.
GSW- yes, they are over the cap
HOU- no escaping John Wall and Eric Gordon's combined 62. They are over the cap.
LAC- hopefully firmly over the cap. Kawhi leaving would hurt
LAL- over the cap
MEM- 20 million open no problem. Watch out, this front office knows what it's doing.
MIN- over the cap
NOP- if they lose out on both Josh Hart and Lonzo, they will only open about 10 million in space. They will likely match any offers.
OKC- 40+ million in space but also 100 million in trade exemptions. They could theoretically absorb the Wizards entire team and give them a fresh new start. OKC is now the market maker for the nba.
PHO- over the cap
POR- a painful path to cap space renouncing everyone and buying out Nurkic exists. They will operate over the cap and focus on their guys.
SAC- surprisingly over the cap. Only Kings could mess up on Richaun Holmes.
SAS- mostly depends on their decision to try and keep DeRozan or not. Only Knicks and OKC will have the 30 million in space Derozan is looking for. Other teams will look to dump players to open up more space for Derozan, but again only OKC, NYK, and MEM will have empty space to absorb another player to potentially open more space. SAS would want some good assets to cooperate on a sign and trade. They could potentially have 40 million in cap space on a tight market.
UTA- no cap space except mle regardless of what happens with Mike Conley
Western Conference Round up:
Teams with Legit Cap space: MEM (20 mil) SAS (40 mil if no DeRozan) OKC (40 mil or trade exemptions)
Teams with RFA issues before free agency: NOP POR
Teams over the cap: DAL, DEN, GSW, HOU, LAC, LAL, MIN, PHO, SAC, UTA