All signs say that Exum was not the priority. Continuity was the priority.
Thabo's team option deadline was the first day of free agency (July 1). On that same day, we met with Favors as soon as we could and made him an offer as soon as we could. Well, we picked up Thabo's option before we even confirmed Favors was going to accept our offer and before we even met with Exum. Thabo's deal took $5+ of the potential $20 million we could have freed up. Not long after, Favors was signed for $16.9.
So before we could even match on anything Exum related OR offer him a deal, we had all of our space allocated to Favors ($16.9) and Thabo ($5+). If we really were going to try to sign other people, we would have renounced Thabo on the first day. We didn't, which says we were going in the direction of just keeping everybody.
And who knows, if Favors would have gone somewhere else, it's not even a certainty that Exum would have been retained. Even with Thabo, we would have had $15 million in space. If Favors had declined our offer, it's conceivable that we just let Exum walk. You never know.