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Trail Blazers: Putting Cap Space to Work

By Steven Dewald

Jan 8, 2016; Portland, OR, USA; Portland Trail Blazers guard Gerald Henderson (9) dribbles past Golden State Warriors forward Andre Iguodala (9) during the fourth quarter at the Moda Center. Mandatory Credit: Craig Mitchelldyer-USA TODAY Sports
Jan 8, 2016; Portland, OR, USA; Portland Trail Blazers guard Gerald Henderson (9) dribbles past Golden State Warriors forward Andre Iguodala (9) during the fourth quarter at the Moda Center. Mandatory Credit: Craig Mitchelldyer-USA TODAY Sports /
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Will the Trail Blazers trade away their cap space for future assets?

The trade deadline is approaching and several teams will be looking to clean up their payroll before it. This puts the Trail Blazers in an advantageous position heading into negotiations. Portland has over 20 million in cap space and they sit roughly 34 million dollars below the tax line. Neil Olshey will be in position to leverage trades by merely offering up cap flexibility in return. It is important to keep in mind that cap space doesn’t have the same value as it did in previous years (due to the coming salary cap jump), but it still is a powerful tool in asset acquisition. To get an idea of what might be on the market for the Trail Blazers we will take a look at a few potential trades.

Cleveland Cavaliers: -39.2 million cap space / 24.5 million over tax line

Oct 30, 2015; Cleveland, OH, USA; Miami Heat guard Gerald Green (14) Cleveland Cavaliers forward Anderson Varejao (17) at Quicken Loans Arena. Mandatory Credit: Ken Blaze-USA TODAY Sports
Oct 30, 2015; Cleveland, OH, USA; Miami Heat guard Gerald Green (14) Cleveland Cavaliers forward Anderson Varejao (17) at Quicken Loans Arena. Mandatory Credit: Ken Blaze-USA TODAY Sports /

Why the Cav’s do it: Varejao is the fifth highest paid Cleveland player, but he is not receiving regular minutes. It would save the Cav’s three million dollars this season by getting Varejao’s contract off of the books and over 20 million going forward. Tristan Thompson and Timofey Mozgov are both receiving more playing time than the 33 year old vet, so it might be time to ship him out of town. Henderson would provide another versatile wing to the Cav’s bench, which is going to be crucial for a title run.

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The biggest piece on the move would be the 2020 first round pick. It is a possibility that Lebron James and Kyrie Irving could have both moved on by this point. James is signed through 2017 (the final year a player option) and Irving is signed through 2020 (the final year a player option). A Cav’s pick in 2020 has the potential to be a lot more valuable than a current first round pick.

Why the Blazers do it: The Trail Blazers have a ton of depth on the wing this year, which makes Henderson expendable. He is also in the final year of his contract. If we’ve learned anything from the past, it is no guarantee he will resign with Portland. As mentioned above, the Trail Blazers have a boat-load of available cap space. This would make the addition of a contract like Varejao’s much less painful. Varejao is under contract until 2018 and roughly makes around 10 million a year. Portland could waive the veteran big man and stretch out the remaining cap hit, thus softening the blow to the salary cap.

Adding future first round picks will be crucial for Neil Olshey going forward. The Trail Blazers are a small market team in a league that is about to be overwhelmed with extra cash. This makes the accumulation of draft assets even more vital for teams like Portland.

Jan 21, 2016; New Orleans, LA, USA; New Orleans Pelicans associate coach Darren Erman talks with forward Anthony Davis (23) and guard Tyreke Evans (1) during the first quarter of a game against the Detroit Pistons at the Smoothie King Center. Mandatory Credit: Derick E. Hingle-USA TODAY Sports
Jan 21, 2016; New Orleans, LA, USA; New Orleans Pelicans associate coach Darren Erman talks with forward Anthony Davis (23) and guard Tyreke Evans (1) during the first quarter of a game against the Detroit Pistons at the Smoothie King Center. Mandatory Credit: Derick E. Hingle-USA TODAY Sports /

New Orleans Pelicans: -9.9 million cap space / 4.7 million under tax line

Why the Pelicans do it: This season hasn’t gone according to plan for New Orleans, which could lead to them liquidating assets at the deadline. Asik’s contract is atrocious and Evans likely won’t fit into the future plans for the Pelicans. Shipping these two players off to Portland would save them over 40 million dollars in the next two seasons alone. They would only take on Henderson’s expiring six million dollar contract in return.

The Pelicans would then be able to attract top level FA’s with cap space and the promise of being able to play next to Anthony Davis. It would certainly be an attractive sales pitch in the busy summer ahead. The clock is ticking in New Orleans, which could leave the door open to short-sighted deals.

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Why the Blazers do it: Henderson will likely depart in the frenzied free agent signing period this offseason, but his departure would be less damaging with the addition of another veteran guard. Evans is a suspect shooter, but a capable ball handler. He could serve as the primary ball handler off of the bench and could play alongside both Damian Lillard and C.J. McCollum. Asik could be worth a test drive as a rim protector, but his contract isn’t the easiest thing to take on. Like Varejao, Asik could be waived and stretched to relieve the burden of his salary cap number.

The big gain here would be Olshey’s ability to receive future draft considerations for merely sacrificing salary cap. An option for a pick swap in 2018 would certainly look like a smart bet right now, as Portland looks more adept at building a winner than New Orleans. Adding another second round pick could prove a valuable asset for future trades.

These are just a couple scenarios of what could be out there for Portland. More rumors will likely arise as we close in on the deadline. The Trail Blazers abundance of cap space will have them linked to several potential moves. The big question is whether or not a deal comes along that is worth investing in.