How quickly everyone forgets...
Posey is 31, not 32. Posey does not have declining skills. Did you people even watch the playoffs? He was HUGE for us. He is the perfect fit as a 6th man on this team.
There are so many teams who have so much dead money on their cap, that have no chance of winning a title. Are you really willing to sacrifice our best chance of winning championships over the next three years because you are afraid to have $7-8 million of dead money on our 2012 salary cap? That is ludicrous. We can sign Posey, and contend for years, or lose him to CLE or LAL and watch them win the title. Posey was a difference maker for us in the post-season. In the words of JVG- "Posey commits a foul after every whistle." His toughness, defense, attitude, floor spacing and clutch shooting were incredibly important to us. We had freaking Vin Baker on our cap for years without even having the player, or any chance to win.
Me, I'd sign him, and worry about 2012 later.