This may factor into your opinion.
Essentially no CAP space
Guaranteed Salary: $83,000,529
Free-Agent Cap Holds: James Johnson ($3,250,000), Luis Scola ($3,480,000), Jason Thompson ($980,431)
First-Round Pick Holds: No. 9 ($2,253,300), No. 27 ($996,700)
Dead Money: $0
All-Inclusive Total: $93,960,960.00
Cap Space: -$1,960,960
The Toronto Raptors are the rare team with an initial projection that's misleadingly bright.
DeMar DeRozan's $10.2 million player option counts against their guaranteed salary. But his hit will top $15.2 million when he elects to reach free agency. That's cheaper than the max deal he's assured, whether it's from Toronto or another team, but it still attaches an extra $5 million or so to the Raptors' bottom line.
Bismack Biyombo's $2.9 million player option, also included in the guaranteed salary, compounds Toronto's issue. His hold will increase to only $3.9 million when he opts out, but unlike DeRozan, the Raptors don't own his Bird rights and cannot travel above the salary cap to re-sign him.
Losing DeRozan doesn't even give them enough to cobble together a competitive offer for Biyombo. One Eastern Conference general manager told the Sporting News' Sean Deveney he might fetch between $16 and $17 million on the open market, maybe more. Toronto could cut the cord on all its free-agent holds, plus DeRozan, and still not have that much to spend.
With Terrence Ross' and Jonas Valanciunas' extensions kicking in next season, the Raptors, barring some epic salary dumps, will be acting as a capped-out team regardless of what happens with DeRozan. Luckily for them, that top-10 pick they snagged from the Andrea Bargnani trade will soften the blow of their financial constraints