Day one of free agency, our salary cap looks like this, including salary and cap holds (cap holds are starred). In order to sign free agents, we need to get below the cap, either by renouncing rights to players or dumping salary. I left out trade exceptions that may exist, assume those will be renounced. Or you can sign and trade for other players using trade rules (trades must be within 125% + 100K).
Player 2010 Salary/*Cap Holds
Tracy McGrady *19,635,000.00
Al Harrington *15,040,313.00
Eddy Curry 11,276,861.50
David Lee *10,500,000.00
Chris Duhon *9,047,700.00
Eddie House *5,724,000.00
Sergio Rodriguez *5,676,105.00
Danilo Gallinari 3,304,560.00
Wilson Chandler 2,130,481.00
JR Giddens *2,057,760.00
Toney Douglas 1,071,000.00
Earl Barron *854,489.00
Bill Walker *854,389.00
Jonathan Bender *854,389.00
Second Rd Draft Pick 473,604.00
Second Rd Draft Pick 473,604.00
MLE *5,800,000.00
LLE *1,800,000.00
Total 96,574,255.50
Salary Cap 56,100,000.00
Cap Space Available -40,474,255.50
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SG
SF
PF
C
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SF/PF
PF/C
SG/SF
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IR