The Celtics still haven't announced their free agent signings and there's a good reason for that. In order to bring in another guard, the Celtics have to orchestrate the finer points of salary cap and luxury tax management. The prevailing wisdom was that they would try to arrange a sign-and-trade with a free agent like Courtney Lee or O.J. Mayo.
Per the Dallas News , the C's actually are trying to work out a sign-and-trade with Jason Terry, which would allow them to use the mid-level exception on another player, like Mayo or Lee. It's unclear who would be involved from the Celtics' end, but it's an interesting maneuver if they can pull it off. The News also notes that Terry will be a Celtic regardless.
The Celtics need to stay under the $70.3 million luxury tax line in order to get a greater return on the trade. For example, if they sent out $4 million in contracts, they could bring back Terry for a salary of $6 million. If they can make all the numbers work after the trade, they then could still be in play to full use the full mid-level exception.
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