Since the article brought up a 10-11 millon per year figure, let's compare that to Ray's market value this summer.
What teams have cap space that would blow it to sign a 35 year old shooting guard for more than the MLE?
It depends on how things work out. I think there will be a market for him among teams that are looking to compliment their stars, and don't want to overpay for an unproven young guy. Sign and trades are also still very possible. And of course it will also depend on which teams lose out on the big prizes.
Right now, it is way too early to tell how it is going to shape up, because we have no idea how things will shift at the trade deadline, as well as which players will actually leave their current teams. But I anticipate after the max guys go (Lebron, Bosh, Wade, Johnson, Amare), a guy like Ray, who is likely willing to take a shorter deal than the younger second tier guys becomes very attractive to teams hoping to contend.