The Lakers have until Tuesday to apply for a "disabled players exception" for Jordan Hill.
It was announced on Friday that Hill will miss the remainder of the season with a hip injury that will sideline the forward-center for six months.
According to the Larry Coon's NBA Salary Cap FAQ, the Lakers can apply for an exception worth half of Hill's $3.56-million salary. There's no guarantee the league will approve the exception if the Lakers even apply for it, but if granted, the Lakers would gain about $1.78 million in additional spending power.
The Lakers can use that $1.78 million to either sign a player for the remainder of the year, or trade for one in the final year of his contract (with an additional $100,000 of leeway via trade for a $1.88-million maximum).