2014 NBA Cap Space Revisited

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The NBA free agency period started on Tuesday and while the league won’t set the salary cap until the moratorium nears an end on July 10, the current projection is $63.2 million.

Initially only two teams are under the cap, the Philadelphia 76ers and Orlando Magic.

That list will quickly grow as free agents find new homes — or teams renounce the rights of players they don’t want to keep.

A team like the Miami HEAT may be able to get as far as $55 million under the cap, but the holds of LeBron James, Dwyane Wade and Chris Bosh nearly eats up $60 million of that space.

Signing at a cheaper rate collectively will open up doors for the Heat.

The following teams could end up with significant cap room: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Dallas Mavericks, Detroit Pistons, Los Angeles Lakers, Milwaukee Bucks, Phoenix Suns and HEAT, among others.

Other franchises may look to open up space in trade — like the Houston Rockets and/or Chicago Bulls. The Rockets already have a deal lined up with the New Orleans Pelicans to shed the salary of Omer Asik.

The summer is just getting started. The following is how the numbers fall on day one, a far cry from where they’ll stand over the coming weeks.