As we saw in looking at the best remaining free agents on the market earlier this week, there's not much talent left for NBA teams to sign.
Still, because of the huge leap in the salary cap this season, several teams still have plenty of money left to spend.
Let's take a look at where teams stand relative to the cap, from most space remaining to least, and what those teams might end up doing with their money.
1. Philadelphia 76ers: $25 million
The Sixers are the last remaining team with max-level cap space, though that won't do them much good at this point.
In fact, Philadelphia's bigger obstacle is roster spots. The 76ers don't have enough room to sign free agents Anthony Barber and Brandon Paul to reported minimum contracts because that would give them 21 players -- one more than the NBA's offseason limit of 20.
Barring a trade, point guard Kendall Marshall will probably be the odd man out because his $2 million salary for 2016-17 guarantees before training camp. Waiving Marshall would push the Sixers' cap space even higher.
At this point, Philadelphia seems likely to preserve its cap space until the trade deadline. The 76ers would have the option of trading one of their centers (Nerlens Noel and Jahlil Okafor) for a veteran making far more money. Or Philadelphia could try to take back a salary another team is trying to shed, though the rising cap makes that scenario less likely except with fringe players like Sasha Kaun, acquired by the Sixers to help trim the Cleveland Cavaliers' luxury-tax bill and waived shortly thereafter.
2. Brooklyn Nets: $18 million
After their offer sheets for restricted free agents Allen Crabbe and Tyler Johnson were matched, the Nets couldn't realistically spend all their remaining cap space. They now have a full roster of 15 guaranteed contracts and plenty of money left, though it would be easy for Brooklyn to eat a minimum contract if the team added another player.
The Nets could still make a run at another restricted free agent, Crabbe's teammate Maurice Harkless, with an offer sheet that would force the Portland Trail Blazers to pay the luxury tax if they match. Barring that, Brooklyn might also wait for trades. The Nets have been careful to preserve their 2017 cap space, currently projected as high as around $40 million.
3. Denver Nuggets: $17 million
The Nuggets' estimate is fuzzy relative to the other teams with substantial cap space. It includes an estimate of Mike Miller's salary on a deal that ESPN's Marc Stein reported was in the $6 million range, as well as a cap hold for No. 15 pick Juan Hernangomez, who might not play in the NBA this season.
If Hernangomez does stay overseas, Denver could get as high as $22 million by waiving three players with non-guaranteed contracts. Alas, since Dwyane Wade passed on their offer, the Nuggets seem unlikely to spend that money.
4. Minnesota Timberwolves: $13.5 million
Having recently signed Jordan Hill, the Timberwolves are now at 15 players under guaranteed contract, though it's unclear whether Kevin Garnett will try to play a 22nd season. If Garnett retires, that could open another roster spot for Minnesota.
The Timberwolves will want to protect next season's potential max-level cap space. The second season of Hill's two-year, $8 million deal is non-guaranteed.
5. Phoenix Suns: $13 million
Earlier this week, Suns GM Ryan McDonough told the Arizona Republic, "I'd be surprised if we spent a lot of that cap space now or over the summertime." Harkless doesn't make much sense for Phoenix, which already drafted a pair of forwards, Dragan Bender and Marquese Chriss, and signed veteran combo forward Jared Dudley.
So, with 13 players under guaranteed contract and two more with non-guaranteed deals (guard John Jenkins and center Alan Williams), the Suns are likely to stand pat.
6. Utah Jazz: $10 million
While the other teams who've yet to spend to the salary floor are mostly rebuilding, the Jazz figure to contend for home-court advantage in the Western Conference playoffs without spending to the cap, an impressive feat.
Since Utah's roster is already overflowing, the best use of the remaining space would almost certainly be renegotiating and extending the contract of either guard George Hill or forward Derrick Favors, similar to the deal the Houston Rockets struck with James Harden earlier this month.
7. Los Angeles Lakers: $10 million
The Lakers have delayed signing No. 2 pick Brandon Ingram, and have put off re-signing restricted free agents Tarik Black and Marcelo Huertas, in case they can find some way to use their cap space before then.
That seems unlikely since the Lakers have already added Jose Calderon, Luol Deng and Timofey Mozgov this summer to meet their most glaring needs, but from the Lakers' perspective, there's little downside to waiting. They could also create another $3 million or so in space by waiving guard Nick Young and stretching the remaining two seasons of his contract.
8. Indiana Pacers: $6.5 million
Indiana is another team that could consider a renegotiation and extension -- for newly acquired point guard Jeff Teague, in this case, though at this point the Pacers might not be able to offer Teague enough of a raise on his $8.8 million salary to make signing an extension with a slight raise next season worthwhile. Such a deal would pay Teague about $32 million over the next two seasons, and he might be able to match that total by playing out his contract while also being able to sign a longer deal.
9. Milwaukee Bucks: $5 million
The Bucks reportedly agreed to a four-year, $52 million deal for restricted free agent Miles Plumlee earlier this week. Milwaukee can use its remaining cap space before signing Plumlee using Bird rights, and with just 13 players on the roster (including unsigned second-round pick Malcolm Brogdon), the Bucks will want to add another wing. Alan Anderson and Kevin Martin are reasonable candidates to supply necessary shooting.
10. Boston Celtics: $4 million
This figure includes the cap hold for center Tyler Zeller, a restricted free agent, as well as the non-guaranteed salary of John Holland. Were the Celtics to waive Holland and renounce Zeller's rights, they could get up to about $12 million in cap space. That would make Boston a player for Dion Waiters, and possibly the only real alternative to the Cavaliers for unsigned J.R. Smith.
The Celtics have yet to sign their lottery pick (Jaylen Brown), which indicates that they're not completely done shopping yet.
11. Oklahoma City Thunder: $1 million
Technically, the Thunder are probably close to capped out after agreeing to a three-year, $18 million deal with 2013 second-round pick Alex Abrines. But that figure includes a cap hold for Waiters, whose qualifying offer Oklahoma City rescinded after adding Abrines. Despite making Waiters an unrestricted free agent with that move, the Thunder still hold his Bird rights, and renouncing those would give OKC more than $14 million in cap room.
One intriguing possibility: The Thunder could make an offer to Harkless a year after the Blazers forced them to match an offer sheet to restricted free agent Enes Kanter. Harkless doesn't fill an obvious need for Oklahoma City but would fit well with the Thunder's young core given his age (23), size and athleticism.
That's it for teams likely to use cap space. The rest are limited to exceptions, as follows.
Taxpayer mid-level exception ($3.5 million): Cleveland Cavaliers (approximately $2.5 million committed to Richard Jefferson)
Room exception ($2.9 million): Charlotte Hornets, Chicago Bulls, Detroit Pistons, Miami Heat, Orlando Magic, Portland Trail Blazers, Sacramento Kings, Washington Wizards
Bi-annual exception: Toronto Raptors
Only minimum-salary exception remaining: Atlanta Hawks, Dallas Mavericks, Golden State Warriors, Houston Rockets, L.A. Clippers, Memphis Grizzlies, New Orleans Pelicans, New York Knicks, San Antonio Spurs