re: As it appears Demps/Gentry are staying, how do you see this offseason unfolding?

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Sounds like he thinks that the deals have to be done at two separate times, rather than fluid. The Pels will hold onto Ryno's cap hold until they need the money for another move, IMO. They don't have to renounce it immediately.

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My thought process is that Dell cannot go out and start pursuing/negotiating with other pricey free agents until he knows whether or not Ryno is resigning. For example Dell cannot send an offer sheet to Fournier for $15M if he wants Ryno back or promise Bazemore or someone else more than the space we have with Ryno's caphold in place.

ETA - Basically Dell needs to know if he is working with the full cap space or cap space - $12.75M before negotiating with other high priced free agents. Only way to know that is negotiating with Ryno first.