thanks for the clarification on both counts... obviously getting creative with the cap isn't an easy task. back to the drawing board!
True, but then the Dec 15th limitation comes into play. Say that team x wants to dump a player. Do you think they are going to commit to a deal now and then wait until Dec 15th to do the trade? In the suggested Mutumbo scenario, do you think that the Rockets would risk signing Mutumbo to an overpriced deal so that they can trade him in December? What if team x gets a better offer between now and then? If the other team pulls out of the deal, then you're stuck with a highly overpriced 40 yr old.
Nike's pretty much covered it, but no that scenrio isn't legal. Go back and look at the excerpt from the CBA that you posted. Item (3) starts off: <i>Assuming Section 7(c) (1) or (2) above are satisfied</i> Section 7(c) (1) or (2) have to first be satisfied. (1) says that you can't re-negotiate until the 3rd year. (2) is refereing to deals that have already been renegotiated. Wells situation doesn't satisfy either of those so (3) isn't applicaable to his deal.
Taking in to account the playoff trade "loophole" scenario could a team like the Suns play a season in the luxury tax zone and then trade under it (once and if) eliminated without incurring the penalty? Probably not? But if so it would be interesting.