ACTIVE ROSTER

Joel Przybilla ($6,857,725)

LaMarcus Aldridge ($5,844,827)

Greg Oden ($5,361,240)

Martell Webster ($4,319,654)

Steve Blake ($4,000,000)

Brandon Roy ($3,910,816)

Travis Outlaw ($3,600,000)

Jerryd Bayless ($2,413,080)

Rudy Fernandez ($1,165,320)

Nicolas Batum ($1,118,760)

RELEASED

Darius Miles ($9,000,000)

CAP HOLDS

Raef LaFrentz ($18,928,700) {The Lower of Larry Bird w/ Previous Annual Salary Higher Than League Average Salary = Previous Salary X 150% or Maximum-Level Salary for Player w/ 10+ Tenured Seasons}

Channing Frye ($9,491,307) {Larry Bird Following Fourth Season of Rookie Scale Contract w/ Previous Annual Salary Lower Than League Average Salary = Previous Annual Salary X 300%}

Voshon Lenard ($7,040,000) {Larry Bird w/ Previous Annual Salary Lower Than League Average Salary = Previous Salary X 200%}

Detlef Schrempf ($2,860,000) {Early Bird = Previous Annual Salary X 130%}

Victor Claver ($1,012,900) {22nd Pick @ Rookie Scale}

Michael Ruffin ($825,497) {Minimum Salary = Portion of Minimum Salary not Reimbursed by NBA}

Shavlik Randolph ($825,497) {Minimum Salary = Portion of Minimum Salary not Reimbursed by NBA}

Luke Schenscher ($825,497) {Minimum Salary = Portion of Minimum Salary not Reimbursed by NBA}

Chris Dudley ($825,497) {Minimum Salary = Portion of Minimum Salary not Reimbursed by NBA}

Joel Freeland ($824,200) {30th Pick @ Rookie Scale}

Petteri Koponen ($824,200) {30th Pick @ Rookie Scale}

Jeff Pendergraph ($0) {Second-Round Pick}

Dante Cunningham ($0) {Second-Round Pick}

Patty Mills ($0) {Second-Round Pick}

Nedzad Sinanovic ($0) {Second-Round Pick}

Frederico Kammerichs ($0) {Second-Round Pick}

Marcelo Nicola ($0) {Second-Round Pick}

Doron Sheffer ($0) {Second-Round Pick}

EXCEPTIONS

Mid-Level Exception ($5,854,000)

Bi-Annual Exception ($1,990,000)

Trade Exception #1 ($2,912,823) {Ike Diogu}

Trade Exception #2 ($874,000) {Sergio Rodriguez}

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After the July moratorium, though, the Trail Blazers will need to clean house a bit by renouncing some cap holds and exceptions to get under the cap. So, in all likelihood, this is what the books will look like come 7/8/2009.

ACTIVE ROSTER

Joel Przybilla ($6,857,725)

LaMarcus Aldridge ($5,844,827)

Greg Oden ($5,361,240)

Martell Webster ($4,319,654)

Steve Blake ($4,000,000)

Brandon Roy ($3,910,816)

Travis Outlaw ($3,600,000)

Jerryd Bayless ($2,413,080)

Rudy Fernandez ($1,165,320)

Nicolas Batum ($1,118,760)

RELEASED

Darius Miles ($9,000,000)

CAP HOLDS

Victor Claver ($1,012,900) {22nd Pick @ Rookie Scale}

Joel Freeland ($824,200) {30th Pick @ Rookie Scale}

Petteri Koponen ($824,200) {30th Pick @ Rookie Scale}

Jeff Pendergraph ($0) {Second-Round Pick}

Dante Cunningham ($0) {Second-Round Pick}

Patty Mills ($0) {Second-Round Pick}

TOTAL

$49,982,722

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With that noted, here's my off-season plan as of this very moment.

TRANSACTION #1

Trade Steve Blake, the draft rights of Patty Mills, a 2010 second-round draft pick (i.e., the more favorable of the pick owed by Chicago and Portland's own pick), and $3,000,000 in cash considerations to the Chicago Bulls for Kirk Hinrich.

The new total salary would then be $55,482,722.

TRANSACTION #2

Sign Jeff Pendergraph to three-year, $2,550,000 contract (2009-2010: $800,000; 2010-2011: $850,000; 2011-2012: $900,000), with the third season non-guaranteed if he's waived before 7/1/2011.

The new total salary would then be $56,282,722.

TRANSACTION #3

Sign Dante Cunningham to a two-year, $1,219,783 contract (2009-2010: $457,588 & 2010-2011: $762,195), with the second season non-guaranteed if he's waived before 7/1/2010.

The new total salary would then be $56,740,310.

TRANSACTION #4A

Trade Travis Outlaw, the draft rights of Victor Claver, the draft rights of Joel Freeland, and the draft rights of Petteri Koponen to the Houston Rockets for Shane Battier.

The new total salary would then be $57,343,210.

TRANSACTION #4B

Trade Travis Outlaw, Martell Webster, the draft rights of Joel Freeland, and the draft rights of Petteri Koponen to the Washington Wizards for Mike Miller.

The new total salary would then be $57,053,193.

TRANSACTION #5

Sign Robert Swift to a one-year, minimum-level contract.

TRANSACTION #6

Sign Anthony Carter to a one-year, minimum-level contract.

TRANSACTION #7*

Sign Ime Udoka to a one-year, minimum-level contract.

*Contingent on Transaction #4B occuring over Transaction #4A.

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Well, that's that.