Millsap's only averaging 15 and 7 this year. Is he really going to $10.5mm per season? I'd love to sign Millsap to a 5 year deal, as frontloaded as possible, with a full 15% signing bonus. The extra year should make it possible to get him at a lower number per season. The frontloading and signing bonus make him much more tradeable in the future.
5-year, $50.15mm contract would look like this:
Cap Hit (with max 7.5% decreases)
13/14: $11.8mm
14/15: $10.915mm
15/16: $10.03mm
16/17: $9.145mm
17/18: $8.26mm
Actual Salary Paid ($7.5225mm signing bonus)
13/14: $17.5525mm
14/15: $9.27775mm
15/16: $8.5255mm
16/17: $7.77325mm
17/18: $7.021mm
I would do either one in a heartbeat. But see several teams doing 60 million over 5 years.
Indiana - may choose to go after Sap instead of resigning West who is 4 years older. Granger expires in a year so gives them the overhead to do it. They are in win now mode and Sap in his prime makes sense.
Dallas - Cuban is unpredictable but his bank account must be respected. As long as they have Dirk he will be in win now mode and Millsap would would be a talent infusion for them.
Philly - they have nothing resembling a PF, although if they choose to max Bynum Sap will likely be too rich for them.
Phoenix - Sap would be an attractive piece to pair with Dragic and Gortat. They have no future prospects at all they have to worry about paying.
Portland - Always a threat for our players of course and thanks to the Roy amnesty have a ton of space next year. They might like Hickson enough to resign him cheaper but consider them a huge threat.
Houston - they have a ton of middling lottery PFs but none are looking promising. Being in semi win now mode, and Morey being an advanced stats guy, Sap seems to be a fit.
Charlotte - they flat out just need talent at any position and probably won't draw interest from many FAs. Sap himself may decline them.
Atlanta - The Hawks have about 18 million on the books next year and Smith most likely won't resign. Teague will require a little cash to keep but they could still afford to give both Jefferson and Millsap huge contracts.