If we can resign Ray for cheap enough to get Danny a green light from ownership to spend the MLE and retain some key players (House and TA or Daniels), then there are some real chances for improvement next season without a juicy Ray trade.
There are some enticing prospects out there for the full MLE and split MLE signings:
Full MLE:
Mike Miller, consummate offensive utility player who improves our rebounding.
Tyrus Thomas, a Josh Smith/Gerald Wallace late-bloomer or a Stromile Swift bust; could be the athletic 3/4 needed to compensate for Paul and KG's declining athleticism.
Al Harrington, the Jamal Crawford of big men, could give us a legit go-to option off the bench.
Luke Ridnour, the true PG the bench has been missing, though the contract year production bump and defensive incompatibility with Rondo make him a bit too pricy.
Marcus Camby, the rebounding force that the bench sorely needs, but the money already locked up in 4/5s who struggle against quick forwards makes it unlikely.
Josh Howard, a buy-low option coming off a horrid season. If he could regain any of his former efficiency and defensive prowess he could be a steal.
Travis Outlaw, a bit of a reach at the MLE, but a versatile player who again fills some of the athleticism gap at the 3/4.
Split MLE:
Raja Bell (great shooter, good defender), Amir Johnson (foul-prone but enticing, rebounding + defensive potential are top-notch; maybe in line for a Ramon Sessions type deal), Roger Mason (bit of a chucker but very versatile), Steve Blake (solid all-around PG), Dorell Wright (I think he's developing into a solid role-player), Kyle Korver (marksman due for a paycut).
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The key is to resign Ray at an affordable price. Replacing Ray and filling bench holes is just too much need to fill with the MLE