What about this trade? They work financially but I'm not sure if they would be accepted. If so, it would get us well under the cap by the end of the '09-'10 season and we could go after several free agents.
Trade #1: Zach Randolph to Chicago for Larry Hughes. (Chicago desperately needs a low post threat and they don't want Larry Hughes anymore- they might go for it)
Trade #2: Eddy Curry and Jamal Crawford to Indiana for Jermaine Oneil. (Jamal is the key here, Jermaine wants out and regardless of the amount of hate Jamal receives on this site, he is probably our most valuable asset)
Our starting lineup would be:
PG - ?? (Derrick Rose if we get lucky) (maybe Marbury, would only keep him for expiring contract)
SG - Larry Hughes
SF - Wilson Chandler
PF - David Lee
C - Jermaine Oneil
With these trades, Jermaine Oneil, Larry Hughes, Q. Rich, and Jared Jeffries would all come off the books at the end of the '09-'10 season and we could go after Lebron and probably another big time free agent.