Okay, thought about this a bit more.
The OP's idea couldn't be implemented until the small window between the end of the season and the expiration of the TPE.
By then we will not only know the lottery order, but also the actual draft night will be over.
So whether the idea makes any sense at that time may depend on a lot of things that can change between now and then.
Obviously, if we get the #1 and take Embiid, the idea becomes moot.
Suppose we end up with the #3 pick and take Andew Wiggins? Because of that, we likely will not resign Bradley (freeing up that cash). Bogans' contract will also be gone and I'll assume we only resign Hump & Bayless if the total cost is less than their current 15M.
After thinking about it, it may actually make sense to do something like this because it would create a starting 5 of Rondo + Wiggins + Green + Sully + Gasol.
Depending on how fast Wiggins matured, that is actually a pretty solid lineup. It gives Rondo multiple scoring options both inside and outside to work with. You have three veterans who have been deep in the playoffs (including two who have rings) and two promising youngsters (sound familiar?). That lineup has a lot of complementary skills and has length, athleticism and brute strength.
Gasol is probably a great prototype for Olynyk to learn from too.
The 2015 draft will (reportedly) be much stronger in Centers. You can then look in that draft for a longer term replacement for Gasol -- or trade for someone else's 'young veteran' C if they take one in the draft since I think the above lineup will not make the lottery.
So ... put me down in the, "depending on how the lottery/draft shape up, sure - this might work".
(Obviously, I would not want to give Pau a super-long contract. Max of 2 years guaranteed, with maybe a team option on a third.)