According to my calculations, this is the salary cap number the Bulls need released to offer Chris Bosh a full max contract if a S&T with Toronto is agreed upon that sends James Johnson and Taj Gibson out for Chris Bosh and basically allows us to get two FAs.
I think I have cleared up the cap situation in terms of a sign and trade with Toronto. Now, previously I had argued the roster charge incorrectly. Charges are calculated prior to your offer, so you can't count the new player as a roster spot when calculating salary cap space. This means your cap room when making an offer is basically 473k less than after the player accepts it.
At least according to my reading of the CBA. However for a S&T, it's a little different. Let's assume a cap of $56,472,740:
Now for the purposes of matching salary with Toronto in a S&T, they could move Johnson + Gibson to Toronto. This gets around the potential loop hole (and I'm not sure if it exists really), of having the temporary cap hold, because you have a set roster before the trade.
Johnson + Gibson + $14,211,232 = $16,568,908 + $473,604 (or Chris Bosh + roster charge)
The S&T allows you to get around the temporary extra roster charge (which may or may not really exist, since if it really exists it's moronic and makes no sense).
The last estimate was 56.1 million, but the league likes to estimate
low so that owners don't get killed if they are wrong. Earlier
estimates were 50-54 million, and now we're sitting at 56.1 million.
the NBA finals kicked butt in ratings this year, so the extra push
throughout the end of the season was probably better than expected
rather than worse than expected. We'll need to wait for the final
numbers, but I think there's a pretty good shot the Bulls get that
extra 370k they need.
If they don't get it, they'd need to hope
Bosh would be willing to leave about 3 million on the table over six
years (probably reasonable if he decides he wants to come here) or look
for a trading partner that would save them some money on Loul Deng
(probably not hard to ship Deng off to save a couple million bucks
rather than finding someone to take him and save all the money).