The problem lies not with NBA rookie salary cap, but with the location where Splitter was drafted. If he goes in the top ten, then the salary is compe ive. If he goes in the second round, the salary can be compe ive, depending what a team is willing to offer. The late first round draft and stash is currently a lousy strategy. You can do it in the second round, but not late in the first round. If you can get a guy to come over immediately, fine. But otherwise, treating the Euroleague like a glorified D-league clearly isn't going to fly with good prospects. It used to be that they built their value to go to the NBA, now they are building their value to the Euro teams.
Scola didn't come because the Spurs were too ing cheap to pay him. In some ways, this is a similar deal -- they thought they could get frontline help on the cheap with a rookie contract for a guy who they knew was better than what they could pay him. It seemed like a brilliant business decision at the time -- get Mahinmi and Splitter for less than the cost of Scola. But they severely underestimated the market forces at work. In hindsight, you can't blame them but they got blindsided and made a bad business decision.