MAVS NEWS:

[RasheedsBigWhiteSpot]

Whatever amount he gave up comes off our books.  It isn’t cap space though.  It adds to the space under the tax.  

So, that room under the tax possibly went from $2.3mm to something in the $8.5mm-$8.8mm range depending on how the $13mm is structured over the two years.  If you assume we aren’t going over the tax line (and will maintain some cushion), it means we have about $7.5mm in usable margin.  It could be used now or later to sign someone with a portion of the MLE we have left.  It could also be used in a trade match if that level of margin makes the trade legal - for instance a $10mm player out for a $17.5mm player coming back.

Yeah, I didn't necessarily mean cap space. Just in a budgetary total against the cap and various tax and aprons.