So many questions after Spurs use amnesty on Richard Jefferson

The Spurs decided to use the new amnesty provision on Richard Jefferson but must still pay all or most of the $38.5 million remaining on his deal. (AP)

The Spurs’ epic affair with Richard Jefferson is over. The team has decided to use the amnesty provision on its starting small forward — a guy who ranked fifth in the league in three-point shooting last season for a team that, as John Schuhmann pointed out, loves the corner three more than any other.

But now the questions are flying …

1. Do the Spurs have a Plan B?

Are they really going to trust rookie Kawhi Leonard — or second-year guys James Anderson, Danny Green and Da’Sean Butler — to man the “three” spot on this aging team? You know the answer: San Antonio is going to sign someone, and cutting Jefferson’s $9.3 million salary from the books is crucial in that regard. Before this move, the Spurs were over the luxury tax, meaning they had access only to the “mini” mid-level exception — a three-year deal starting at $3 million. But with a payroll now around the $64-million mark, the new rules allow the Spurs to offer the full mid-level — a four-year deal starting at $5 million per year. Will that be enough for Grant Hill (a great fit, but not a three-point shooter), Shane Battier (so perfect it hurts), Caron Butler (met with San Antonio today, but has $7-million offers from the Clippers and Nets, according to ESPN’s Chris Broussard), Andrei Kirilenko (likely seeking more than the mid-level), Tayshaun Prince (another great fit who may want more) or even Mike Dunleavy Jr.?

We’ll find out. The trick for these guys is that most teams under the cap either have no chance to make postseason noise this season or want to use the space they have — or can get via amnesty — to sign one of the elite big men on the market. There are a few appealing potential big-money landing spots out there for wing players, and some of these guys are going to have to “settle” for a mid-level type deal on a contender. San Antonio fits the bill, and you can bet R.C. Buford is confident he has one of these guys in the bag.

2. What happens to Jefferson?

The Spurs must still pay all or most of the $30.4 million remaining on his deal, assuming Jefferson exercises his $11 million option for 2013-14. But Jefferson now goes into a modified waiver system in which teams under the cap submit bids for him. Any such bidders will name the portion of Jefferson’s salary they’d like to pay; the team that “bids” the highest gets him, pays the bid amount and leaves San Antonio to pay the rest. That team will carry Jefferson for the remaining three seasons on his deal. They will not be able to use the amnesty provision on him later and they will not be able to use the so-called “stretch provision,” which will allow teams to waive players and extend the cap hit several years beyond the expiration date of that player’s contract.

If no team under the cap bids on Jefferson, he will be said to have “cleared waivers,” and the rest of the league will get a crack at him. This is where things could get interesting, because a few teams over the cap could use a backup wing player with range and the ability to draw fouls. Boston is starving for a backup wing, the Heat could use some Mike-Miller-injury insurance, and the Thunder (a tad under the cap, actually), if they could wriggle a roster spot free, could us a true small forward to back up Kevin Durant so that they don’t have to play three-guard lineups so often. Even Dallas could use Jefferson to do what Peja Stojakovic did last season — open up the floor when the combination of Shawn Marion and a center is squeezing it, especially when Dirk Nowitzki is resting and Marion shifts to power forward. Toss in Orlando (after Quentin Richardson’s struggles and Jason Richardson’s likely departure) and Memphis (in need of shooting to replace Battier, in the likely event he leaves), and I wouldn’t argue.

All of those teams, save for the Thunder, are over the cap once you factor in cap holds (i.e. Marc Gasol), so most of this list is moot should a team under the cap claim Jefferson at any price. Would any team under the cap spend any money on Jefferson, who’s 31, is losing his explosiveness and coming off two seasons in which he struggled (particularly in the playoffs) to grasp things on either end in San Antonio?

It will be interesting to watch. If you’re the Clippers, for instance, and you need a low-usage small forward to shoot threes when Eric Gordon and Blake Griffin draw all the attention, would you spend $7 million on Butler or $1 million on Jefferson? Consider the Clippers may want financial flexibility to pull a mega-deal, sign a big free agent down the line and extend their young stars. You could ask the same of New Jersey, though the Nets seem more interested in making the kind of big free-agency splash that would impress Deron Williams. Would the Raptors like to bring in a cheap wing player to mentor their shaky-shooting wings?

The list goes on. After amnesty looked like it might be non-issue this season, I’m just glad we get to watch at least one case play out.

On that note, this is a fitting end to Jefferson’s crazy stay in San Antonio. The Spurs dealt for Jefferson in June of 2009, when he had two years left on his mammoth $76 million New Jersey-era contract. He mysteriously opted out of the final year of that deal, and signed the new four-year, $39 million contract that (wink wink) allowed the Spurs to slide just under the tax line last season. During the collective bargaining talks, Spurs owner Peter Holt, who often talked about the struggle to break even in San Antonio, reportedly pushed for an extended amnesty clause teams could use any time during the new CBA. Perhaps the Spurs wanted to give Jefferson, their only veteran option at small forward, one last chance before cutting bait after the 2011-12 season — right when Tim Duncan’s deal expires.

The owners got their extended amnesty clause, but Holt has apparently decided he’d like to pay Jefferson to go away and (presumably) pay $5 million or so to Jefferson’s replacement. The math could still work in Holt’s favor if a team places a bigger-than-expected bid on Jefferson, and if San Antonio signs its target free agent to just a one-year deal, allowing Leonard to take over the position next season. But Holt’s profit margin figures to take a hit at least this year.