As free agency runs down, teams with money begin to dwindle, and the remaining free agents realize that they should sign for whatever they could get. Guys that sign early often get overpaid, while guys who wait out the free agent frenzy often lose years or dollars on their contracts.
So while we largely expected Bynum getting lots of money and maybe multiple years on his next contract, it looks like the options are either taking a ton of money on a 1-year deal, or taking more years and less money. Few teams now have the cap space to sign Andrew Bynum, but Cleveland does, and they might take a chance on him with all their cap space. From ESPN's Marc Stein:
Update on Cavs' pursuit on Andrew Bynum: ESPN sources say Bynum scheduled to be in Cleveland today for face-to-face recruiting sitdown— Marc Stein (@ESPNSteinLine) July 8, 2013
Cavs, remember, would only offer one-year deal IF they decide to proceed on Bynum. But they can offer richest one-year deal out there— Marc Stein (@ESPNSteinLine) July 8, 2013
Cavs don't want to do anything to cut into 2014 cap space. So one-year deal is as far as they'll go. Mavs remain Bynum's other prime suitor— Marc Stein (@ESPNSteinLine) July 8, 2013
Cleveland's cap space amounts to about $15 million, which looks to be the most any team can offer Bynum on a one-year deal without making a sign-and-trade arrangement. As Stein mentioned, Dallas is the other potential Bynum destination at this point. After their previous free agent moves, they would be able to obtain Bynum as a free agent only on a much less lucrative offer - HoopsWorld projects they have about $8.8 million left to spend on free agents. Otherwise, they'll have to sign-and-trade with us.
And Dallas doesn't have much to work with in that regard. They can't move a first round pick until 2016's pick, and even then the Mavericks aren't in position to easily trade away picks (since they could be pretty bad). They have Shawn Marion's expiring deal and the 18th pick in this year's draft, Shane Larkin, to move. They can also sub Vince Carter's much smaller deal, worth just over $3 million. A move of Carter and Boston's second round pick next year wouldn't be a bad one in exchange for Bynum, from our perspective.
Dallas would also have to give Bynum at least a 3-year deal in the sign-and-trade scenario, but Dallas can make any year after the first nonguaranteed.
Regardless, at this point he's as good as gone. The only question remaining is whether or not we get anything in exchange for him. If he signs in Cleveland, we'll get nothing. If he chooses Dallas, we come away with something. Hinkie!
UPDATE! According to Stein, he's going to meet with Atlanta too. But they might actually want Monta Ellis more! Welp.