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Per league sources telling Peachtree Hoops, here is the latest Hawks cap news:
The Hawks have renounced the following players from their cap holds:
Johan Petro
Zaza Pachulia
Devin Harris
Dahntay Jones
They also renounced Josh Smith, but that was a formality before Josh signed with Detroit earlier today.
Devin Harris and Zaza Pachulia have agreements with the Mavericks and Bucks, respectively, but since those contracts had not been signed as yet, the Hawks had to renounce them to sign Paul Millsap this morning.
Sources also told us that Ivan Johnson (1.2M), Anthony Tolliver (884K) and Jeff Teague (6M) had not been renounced.
Also, DeShawn Stevenson (2.24M), Shelvin Mack (900K) and Mike Scott (800K) have not been released as yet, per league sources.
Here now is the latest Hawks roster and cap situation:
Al Horford: 12.0M
Paul Millsap: 9M (assumed starting point of 2 year, 19 million dollar deal)
Kyle Korver: 5.4M (assumed starting point of reported 4 year, 24 million dollar deal)
Lou Williams: 5.22M
John Jenkins: 1.258M
Jared Cunningham: 1.208M
Lucas Nogueira: 1.4M (Draft slot hold)
Dennis Schroeder: 1.3M (Draft slot hold)
DeShawn Stevenson: 2.24M
Mike Scott: 800K
Shelvin Mack: 900K
Mike Muscala: ~500K (based on Mike Scott 2012-13)
Jeff Teague: 6M (Cap Hold only)
Ivan Johnson: 1.2M (Cap Hold only)
Anthony Tolliver: 884K (Cap Hold only)
Jeremy Tyler: 100K (released but this is cap hit)
Salary Cap: 58.679M
Total Salary and Holds: 49.426
The Hawks currently have 9.253M to spend on the first year of any free agent. Tolliver's 887K cap hold was a surprise and the Hawks have not yet signed DeMarre Carroll to his contract yet.
The Usual Other stuff:
The Hawks can release all non-guaranteed deals without penalty and renounce all remaining cap holds, if needed.
They also can use the Room Exception to sign a free agent, which starts at 2.6M maximum. This could inevitably be used to sign Carroll, should the Hawks need to.
So the Hawks could free up enough space to get another 12M free from the cap, if wanted. Or another 6M, bringing their first year number to ~15M and still have the rights to go over the cap to either sign Teague or sign and trade him.