I'll try to explain a little bit:
The NBA cap this year is estimated to be around 59M(45 % of BRI).
The Spurs as of right now have 9 players under contract:
Manu Ginobili: $14,107,492
Tony Parker: $12,500,000
Stephen Jackson: $10,059,750
Tiago Splitter: $3,944,000
Matt Bonner: $3,630,000
Kawhi Leonard: $1,809,840
Cory Joseph: $1,074,720
Dejuan Blair:$1,054,000
Gary Neal: $845,389
Calculate these up and you have roughly 49 million on the books. 10 million under the soft cap. The other # to keep in mind during this is the Luxury Tax Line which is $70.3M.
This means the Spurs are about 10 million under the soft cap and 21.3 million under the luxury tax line. (The Spurs usually like to stay right under this #).
Now you take into effect the re-signing of Duncan (Lets just say he takes 10M/yr but it could be more) and Danny Green ( looking to be around 4-5M/yr) That immediately brings us over the cap by 5 mil. Amnestying Bonners 3,630,000 mil contract still keeps us over the cap, giving us no extra funds to spend but it does help us avoid the luxury tax line in the long run.
Since we are still over the cap, the NBA gives every team over the cap 2 exceptions to spend every summer (MLE and LLE) Our MLE is roughly 5M yr/maximum 4 years, and LLE roughly 2M yr/maximum 2 years)
Then we fill up the roster with minimum contracts.
Not the best write-up but did it quick.
[This message has been edited by Sher Thing (edited 7/5/2012 4:15p).]