Look at the salaries. Lakers would have a team option on Bynum(16M) & Odom(8M) in the same year DWill has a player option. So Lakers decline options on both guys, putting them about 20M+ UNDER the cap. Dwill opts out, signs with LA. LA re-signs Bynum to a more cap friendly deal and Odom for a little less. Totally possible. How does that make you feel?
I'm fairly certain it's NOT possible. By not taking up the option on Bynum and Odom I dont think they can go over the cap to sign them after DWill takes up their cap space in this scenario. Bynum and Odom wouldn't be "their" free agents anymore once they decided not to take up their options, meaning they couldn't go over the cap to sign them.