While a handful of free agents are still on the market and many will sign deals in the coming weeks, the brunt of the offseason spending is now complete. Using Hoops Rumors' Free Agent Tracker, we'll be looking back at this summer's free agent signings, checking in on which teams were the offseason's big spenders and which teams were relatively quiet. Our look at summer spending starts with the Southeast Division, and will eventually continue to cover the other five divisions.
These figures only take into account free agent signings, so salary absorbed in trades or money used to sign draft picks isn't included in this list. Additionally, not all of this salary is necessarily guaranteed, which we'll try to note as we go along. Here are the Southeast's expenditures in free agency, sorted by player salary:
Orlando Magic: $25.2MM (Jameer Nelson)
Besides adding rookies Andrew Nicholson and Kyle O'Quinn, the Magic really only made one signing, inking Nelson to a three-year deal. Not all of the $25.2MM is guaranteed, but Nelson will make a guaranteed $8.6MM in each of the first two seasons of the contract, which certainly isn't an inconsequential commitment for a team looking to create cap flexibility.
Atlanta Hawks: $22.396MM (Lou Williams, DeShawn Stevenson)
A necessary add-on via sign-and-trade in the Joe Johnson blockbuster with the Nets, Stevenson required a three-year deal, but only the first year is guaranteed. Unless Stevenson really impresses the Hawks this year, he'll likely be let go after the season, reducing the Hawks' total summer-2012 commitments to about $17.9MM. Most of that, of course, comes from Williams' deal, which is worth the full mid-level — $15.675MM over three years. Despite being the division's second-biggest spender in free agency, the Hawks cleared a ton of money from their books this offseason by moving Johnson and Marvin Williams.
Miami Heat: $12.439MM (Ray Allen, Rashard Lewis)
Lewis will earn a veteran's minimum worth over $1.3MM from the Heat in each season of his two-year deal. However, his salary will only count toward the team's cap for about $854K in 2012/13 and $884K in 2013/14, shaving a little over $1MM off the Heat's free agent bill. Allen and Lewis also have player options in the final years of their contracts, so Miami's overall price tag for the two players could end up being as little as about $7.17MM, if both opt out early.
Charlotte Bobcats: $10MM (Ramon Sessions)
It was hard to imagine coming into the offseason that the 7-59 Bobcats would be able to attract many desirable free agents to Charlotte. That's turned out to be the case, for the most part, as the club's pursuits of Carl Landry, Antawn Jamison, and others have come up short so far. Sessions was willing to take the Bobcats' money though, signing a two-year deal worth $5MM annually.
Washington Wizards: $1.801MM (A.J. Price, Cartier Martin)
The Wizards have talked about all year about using the trade market as a way of avoiding free agency. They acquired players on expensive, multiyear deals, such as Nene, Emeka Okafor, and Trevor Ariza, noting that it was easier to bring aboard a player whose salary was set in stone rather than trying to negotiate with free agents. So far this summer, the team has stuck to its word, seemingly avoiding the market entirely, except for a pair of minimum-salary deals. The Wizards will pay about $854K of both Price's and Martin's salaries, making Washington's total bill in free agency so far just $1.71MM.