RealGM

Updated 3/15 - signed Jorge Gutierrez for the remainder of the season.

Current Cap Space: None. $8,532,364.00 over
Maximum Cap Space: None. $8,532,364..00 over (if all options/guarantees were not picked up, all FAs renounced, no Draft Picks were to be signed this season, and all Exceptions were renounced)
Luxury Tax Space: $5,785,453.00
Tax Apron Space: $9,785,453.00
Hard Capped due to using BAE on Jeremy Lin.
2016-2017 Maximum Cap Space: $42,830,474.00

How I got there:

Guaranteed Contracts (15): Nicolas Batum, Troy Daniels, Jorge Gutierrez, Tyler Hansbrough, Aaron Harrison, Spencer Hawes, Al Jefferson, Frank Kaminsky, Michael Kidd-Gilchrist, Jeremy Lamb, Courtney Lee, Jeremy Lin, Kemba Walker, Marvin Williams, Cody Zeller

Partial/Non-Guaranteed Contracts (0): None

Free Agents (2): Jason Maxiell, Jeff Taylor

First Round Draft Pick Holds (0): None

Carried Money (3): $55,722.00 (Jorge Gutierrez 1), $55,722.00 (Jorge Gutierrez 2), $80,000.00 (Elliot Williams)

Unsigned Second Round Picks (0): None

Exceptions: Non-Taxpayer Exception at $5,464,000.00. No Bi-Annual Exception (used on Jeremy Lin). TPEs at $646,250.00 (Matt Barnes and $548,000.00 (Luke Ridnour).

Thank god all our veterans expire next year. Al, Lance, Marvin, Roberts are all off the books next year. So we're only capped out this offseason, which isn't a big deal. We'll have like $40M+ in 2016 cap space after an MKG extension next year.

Updated on 6/16 with the trade with the LA Clippers and Al Jefferson exercised his Player Option.

Updated OP on 6/18 with Gerald Henderson exercising his Player Option.