Get Millsap first. Then Noel second.
Go with a three man big man rotation of Horford, Millsap and Noel.
Keep Jerebko and Zeller to be extra bench depth.
That would be interesting. If we can't get Millsap now, I suppose we could still go after Noel and get Millsap in the off-season (with only the qualifying offer for Noel taking cap space). Millsap won't get the max so we would be able to afford him.
But it would be fun to get them both now (without giving up too much, of course). We would be able to put together a very formidable team for THIS year's playoffs.
That's not how cap holds work for restricted free agents work. It's 250% of his salary, or just under $11 million. We would not be able to get Millsap in free agency, most likely.
I definitely should not have said the word, 'would,' in terms of being able to afford Millsap and Noel. I was factoring in about $10M for Noel, but I am still a bit confused on how much cap space we will actually have (assuming we drop KO/Young, Yab and Zizic stay over seas, and we renounce players like Mickey, Jackson). I figured around $20M/yr for Millsap, but maybe I am underrating what he will actually receive based on his age and lack of star-power.
1) I would not assume Yab and Zizic stay overseas. Based on Austin Ainge's comments this week, both are likely to be here next summer.
2) I would be surprised if Millsap got less than $25 million. I don't think he gets the max (which for him is about $36 million), but $25-30 million seems likely. There will be a few teams with money looking to make a move, and Millsap will be the second-best PF on the market, and given Blake Griffin's injury history the past two season, you could argue he's the best on the market. I could totally see Miami making a run at him, for example.
3) As for how much room we have -- it depends a bit on where our draft pick ends up, but if it's #3 again (certainly possible if not slightly pessimistic), and we let Amir, Zeller, JJ, and KO walk, release Mickey, and assume as I do that Yab and Zizic will be here barring a trade, we have a little under $30 million. If you have Noel's Bird rights in there you're under $20 million, although it depends if how you get Noel onto the team in your scenario, of course. You can add back in a million or so if you traded Rozier to get Noel, and around $2 million if both Zizic and Yab do stay overseas. (Note: cutting Jackson actually costs a few thousand in cap space, so he'll be on the roster. That's for another thread tho). Still, you're probably no more than $23 million cap room, probably a shade less, and maybe a million or more depending on lottery luck. I don't think that's getting Millsap.)