Teams were able to begin talking with free agents and their representatives at 12:01 this morning. Stefanski promised he would not be on anyone's doorstep at that time, but the general manager acknowledged that today would be a busy one, with more than $11 million available to spend on his No. 1 target - a big man who can rebound, score, and defend in the low post.

Free agents may begin signing contracts on July 9, though they will be able to reach oral agreements with teams before then.

King, who was fired Dec. 4, was known for being a bit reckless in his generosity with extending his players' contracts. But he stood pat last summer and looked ahead to the long term.

When the 2007-08 season ended, the Sixers lost more than $35 million from their payroll, headed by the $22.3 million salary of the departed Chris Webber and $7 million for Aaron McKie. The expired contracts of Kevin Ollie and Greg Buckner also factored in.

In December, Stefanski lopped off another $4.4 million by sending Kyle Korver to Utah for the expiring contract of Gordon Giricek, who was waived soon after.

That move increased the team's available salary-cap space to more than $11 million, leaving the Sixers and the Memphis Grizzlies as the only clubs with a substantial amount to spend.

Stefanski intends to use close to every penny of the available cap space.

"If we get the guy we really would like as a big [man], I would think that person is going to demand the whole $11 million," he said.

So who will it be?

The Sixers saw their list reduced by one late yesterday when Antawn Jamison re-signed with the Washington Wizards, a four-year contract worth $50 million.

Atlanta's Josh Smith, a restricted free agent, may be the Sixers' No. 1 candidate. The Hawks have vowed to match any offer made to Smith, but an $11 million price tag might be too much for them to overcome.

Other big men believed to be under consideration are Elton Brand of the Los Angeles Clippers and Andris Biedrins of the Golden State Warriors. Yesterday, Brand opted out of the last year of a contract with the Clippers that would have paid him $16.4 million this year.

"We have a list of free agents who we'd like to get," Stefanski said. "When we know who's available, we'll just go down the wish list. The nice thing is that us and Memphis are the only teams that have any money.

"So it's not like there's going to be a mad rush, where kids are just going to sign with all teams because they've got to wait to see what the Sixers and Memphis do. That's where the real money is, the big money."

Stefanski said a big man also could be obtained in a trade in which the Sixers could take back much more in salary than they would need to give up.

"If we don't get fortunate or we don't like what we see in the free-agent market, then we can use the money in the way of a trade," he said.

A second priority would be a long-range shooter, but the Sixers might not have any more than the veteran's minimum to offer. Also, Stefanski thinks the Sixers will become better outside shooters next season.

According to NBA rules, teams over the salary cap may use only their midlevel exception, which is about $6 million; the actual total will be set later this month.

Another matter for Stefanski will be to negotiate contracts for restricted free agents Andre Iguodala and Lou Williams. Both were tendered qualifying offers last week, meaning the Sixers could match any offer that either player receives.