I think the Jazz should tell Okur, ok you made 8.5 in 2008-09, and your player option is 9M for 2009-10, lets make a deal, forget the player option, we're ready to offer a 5 year contract starting at $10M and increasing 10% each year:
2009-10: $10,000,000
2010-11: $11,000,000
2011-12: $12,100,000
2012-13: $13,310,000
2013-14: $14,641,000
He'll be 34 by the end of this contract, he'll probably start his decline by then, and we secure a borderline All-Star center for the next 5yrs. A long deal for Okur works because he'll think we'll I got get a 3yr deal for like 12 or 13 a yr, but who knows if I can get good money afterwards, this way I'll average 12.2 million a year for 5 years. Keep in mind that the cap will go up about a million a year, so in reality we'll have about the same cap space remaining for others.
Also in 2011 AK will be a free agent, and we could definitely resign him for about half the $17,822,187 he's due to make in 2010-11, and he'll be just 29 at the end of his contract, I'd probably sign him for a 3yr $27M deal, $9M per year.
2011-12 season could look like this:
Williams: $16,647,180
Okur: $12,100,000
Kirilenko: $9,000,000
Miles: $3,700,000 (lol we made out like bandits)
Koufos: $2,203,792
2009 First Rounder: $1,030,600 (projected around 25th pick)
2010 First Rounder: $2,005,200 (via Knicks, maybe 10th pick, hopefully higher

)
2011 First Rounder: $954,000 (projected around 25th pick)
$47,640,772
That's 8 players, and we'll probably resign Millsap, and he might make about $9-10M in that year, maybe resigning price for about $4-5M a year, and Brewer will definitely ask for like $7M/yr and that 11 guys for about $68,000,000, plus 3 other guys, we're easily looking at $71,000,000, and that's not including Boozer, who I think would be too expensive to retain, especially while AK is making his big bucks, and Harpring and Korver combine for about $11M in the mean time, and so on.