Here is what we know so far. The salary cap next year is expected to be $58.5 Million.
Confirming @ESPNSteinLine tweet -- league's projected cap/tax for 2013-14 is currently $58.5M & $71.6M. For 2014-15 it's $62.1M & $75.7M.— Larry Coon (@LarryCoon) June 3, 2013
The Pelicans do not have to sign whoever they draft with the 42nd selection. They do not even have to use it at all. They could trade it for a player (unlikely), package with a current player, or outright sell the pick to another team. The rough number is $6 Million in cap space if the 42nd pick is not on the roster. Options are a significant factor for Robin Lopez, Jason Smith and all four players earning less than $1M next season.
To review, the Pelicans are looking at around $6 Million in cap space right now. That number is not set in stone whatsoever. Any player costing less than $10M can be had with relative ease. Dell Demps can either sign and trade (allowing the other team to shed salary) or simply waive Robin Lopez at a cost of $500,000.