Originally Posted by bagelred
Let's follow the logic:
$56.1 - $51 = $5.1 million of cap space. Because the Spurs are now under the cap, you get NO MID LEVEL EXCEPTION.
The MLE for 2010 is about $5.8 million?
So actually, now the Spurs have LESS money to spend if Jefferson stayed. See how that works?
A team is allowed to sign one player to a contract equal to the average NBA salary, even if the team is over the salary cap already, or if the signing would put them over the cap. This is known as the Mid-level exception (MLE). The MLE may be used on an individual free agent or split among multiple free agents, and is available to any team that exceeds the salary cap at the beginning of the offseason. The Mid-Level Exception for the 2008-09 NBA season was $5.585 million. The MLE is $5.854 million for the 2009-10 NBA regular season.
Do not loose MLE when you go under the cap.