Not really. There's no realistic way to sign a 10 million dollar free agent and extend rondo. we could try to let rondo and ray go and then sign a free agent, or extend rondo and try to extend ray for cheap, but we are SO FAR over the cap right now that even when Ray's money comes off the books there still won't be room for a max offer.
Technically, that is not true. With current contracts, if we used today's "cap" room as an indicator, we'd be at around $13MM under the cap. That is with the qualifying offer to Rondo included.
http://hoopshype.com/salaries/boston.htmThe biggest issue is that if we sign several players to multi year contracts in this offseason, that flexibility erodes a lot next year.
That is a separate decision than to "keep Ray" or trade Ray. If we sign Davis to an extension AND bring in an MLE guy on a multi year deal, then you start talking about a decision to make on Ray.
If we sign an MLE guy like Grant Hill to a 1 year deal (much like we did Posey) and aren't forced to provide Davis a multi year contract, then you have a completely different equation. We have the ability to bring in somebody at a $12MM (assuming we draft a player) figure.
That's why I stated there would be difficult decisions to be made in this offseason. Personally, I'd rather trade Allen, Scalabrine, Giddens, and Pruitt to GS for Corey Maggette, sign a MLE guy to a 3 year contract to correspond with Garnett), resign Davis to a 3 year contract, and go from there.