This all just feels too familiar.  Think back to 2000.  The Bulls go in with all kinds of cap space, make a run at Duncan only to see him re-sign with San Antonio.  They make a run at Grant Hill and McGrady, only to see them sign with Orlando.  They make a run at Eddie Jones, have him verbally agree to a deal, and then back out and sign with Miami.  The Bulls were used repeatedly as leverage by free agents looking to increase their value and sign elsewhere.  In the end, they felt like they needed to use up their cap space so they spent it on Ron Mercer and Brad Miller.

The Blazers haven't destroyed their entire organization the way that Chicago has, but they are being used in the same manner.  And I have a sneaking suspicion that they will continue to be abused in this way.  Take David Lee.  He is restricted, meaning that if the Blazers offer everything they have, it will be just barely above what the Knicks have already offered and likely a no-brainer for them to match.  Aside from being a competitive team, the Blazers don't really have anything to offer Lee--no starting spot, no supermodel girlfriend, no New York nightlife.  So KP can make him a big offer outright and tie up the cap space while the Knicks take their time deciding to match, or he can get in line with a dozen other teams trying to work out sign-and-trades. 

The Blazers have no real advantage in a sign-and-trade other than the fact that they don't need salaries to match up completely.  And make no mistake that in a competitive sign-and-trade field, trades along the line of Steve Blake + Travis Outlaw are not likely to get you David Lee.  The Knicks would probably rather let him go for nothing.  They're in the LeBron James sweepstakes, and anything they do is going to be aimed at making New York a more desirable destination.  I'm not sure The King is going to be drooling over the thought of playing next to Steve Blake.

So given that we have been spurned once and seem likely to be spurned again, what is to be done?  I think that the top priority has to be, "do not end up with Ron Mercer".  Making a reasonable offer to a guy like Ramon Sessions sounds fine with me.  Paying him a large portion of your $9 million because nobody else will take it is not going to be worth it in the long run.  Beyond that, it seems as though the Blazers' best remaining options involve trades with those teams that are trying to position themselves for 2010.  Cap space and young players with potential are good.  If nothing pans out there, trade the cap space for an expiring contract (and picks or other assets) that could be dealt at the deadline (a la Seattle for Kurt Thomas a couple years back)--this will at least allow us to extend LMA and Roy and not completely lose all flexibility.  I don't know about you, but I would rather not see those two hit restricted free agency at all.

And if we get to the fall and can't find a deal that makes sense, have the courage to make no deal at all.