Yep. Hypothetically, if Kemba signs a max and Gasol picks up his option, that team is way over the luxury for next season although they do have a ton of expirings next year.
I would assume that the deal with Memphis is Gasol for Biyombo, Frank Kaminsky and Charlotte's 2019 1st. That only adds $8 million more if Gasol opts in, but it does keep them out of the luxury if he opts out. With so many teams having cap space this summer, I bet Charlotte could find a way to dump expiring Marvin Williams or MKG to a team needing to spend money.