via ESPN
If Thompson signs a five-year, $80 million deal, Smith comes back for $6 million, Dellavedova signs for $5 million and the Cavs do not take the Haywood cap savings for themselves but instead trade his deal for another $10.5M player, the Cavs' payroll would swell to about $124 million. By virtue of being almost $40 million over the tax line, the Cavs would pay a tax over $131 million for a total expenditure of $255 million of Dan Gilbert's hard-earned dollars.
Therefore, it's unlikely the Cavs bring back all three players and acquire additional payroll for Haywood's contract. Under the aforementioned projection, if the Cavs re-signed Thompson, Smith and Dellavedova and just waived Haywood's non-guaranteed contract they would save over $51 million in taxes and almost $62 million total due to the increasing nature of the tax, resulting in a total tax of $80 million and a total expenditure around $193M.
Cleveland could also trade Haywood to a team with cap space (like the 76ers) and receive a $10.5 million trade exception (the value of Haywood's contract). They could then use the trade exception to acquire a $10.5 million player later in the season or just take advantage of the cap savings by waiving Haywood themselves.