That's only true if Manu retires, splitter walks, neals walks, blair walks, bonner walks, and diaw retires.
I just read that Diaw will stay with his option.
Until Manu retires or signs a new deal, he has a nearly $20 mil cap hold, Splitter $7.5 mil.
They're at $83 million in cap holds. Obviously, Manu even if he stays won't be paid $20 mil, but that cap hold doesn't change until that is resolved. Same with Splitter. I expect Blair to walk, but I can see them keeping Bonner and even if not he has $1 mil in guarantee and their draft pick has the same cap hold.
So yeah, if everyone who is a FA walks/retires, they can get down to $41 mil + roster holds + draft pick hold.
But that shit ain't happening. They're already over $47 with Diaw and waiving Bonner regardless without holds. If Manu + Splitter combine for $10 mil, they have just the MLE as they'll be over the cap.