Salary cap yet again

At 10:31 PM 97.1.17 -0500, R. Bentz Kirby wrote:

>Also, with the first round picks the Celtics have, does that not make it
>difficult for us to make a trade.  I am sure that anyone who takes Dee
>Brown, or some others will only do so if they get draft picks.  Just a
>thought.
>
>Bentz

I remember this came up before. In theory, could the Celts simply release
Dee and swallow his salary? If they did so would his salary still count
aginst the salary cap? If remember correctly, the answer to the latter
question was yes -- Dee's salary would still count against the cap, thus it
makes no sense simply releasing him. 

However, when the Knicks traded Charles Smith to the Spurs they also agreed
to pay part of his salary. This was the incentive the Spurs needed to agree
to the trade. My understanding is that the Knicks did this to free up room
under the cap. This is from Peter May's column:

********
[Peter May, Boston Globe]

The Knicks started their overhaul by moving Charles Smith to San Antonio
for J.R. Reid and Brad Lohaus. Smith was, like Brown, Radja and Barros,
presumed to be untradeable because of a huge, long-term salary. The Knicks
offered to pay Smith's salary, knowing that San Antonio, already committed
deeply to David Robinson and Sean Elliott and not a top revenue producer,
would welcome the move. In addition, the Spurs will not be in a position to
get  under the salary cap for years, so Smith's salary was immaterial as
long as they weren't paying it. That is perfectly allowable under NBA
rules.

What could Boston do? The object is to find a team that can use a player
you have and, if you have to get a player in return, which usually is the
case, then make sure the new player is (a) serviceable and (b) on the final
year of his contract.

[snip]

The Celtics could then offer one of their players, continue to pay his
salary, and in return receive some short-term help. Impossible you say?
That's what everyone told the Knicks when they were trying to move Smith.

``There are teams out there willing to do just that,'' Checketts said. ``No
one wanted Charles Smith. But we found a spot for him. But you have to be
creative.''

And you have to have the money. The Knicks are owned by ITT. Riley has a
budgetless basketball operation in Miami. The Celtics have the money to
absorb such a hit, too.

*********

Have I missed something here? If you release a player and continue to pay
his salary it still counts against the cap, but if you trade a player an
agree to continue to pay his salary it does not count against the cap? 

Could the Celts move a few players out AND free up salary under the cap by
agreeing to pay the salary of the traded player?

- -Marc