They are horrid this year, but they have actually started to build properly.
2011 draft:
Kemba
Bismark
2012 draft:
Taylor
MKG
2013 draft
#1-#4 pick
Portland pick if >#12 (maybe, currently #13 by 1.5 games, could always win 1-3 pick if not in playoffs and 13 or 14 pick)
Detroit pick if > #14 (not happening)
2014 draft
Their pick
Portland pick if >#12 if not attained in 2013
Detroit pick if >#8
Their second round pick
They also have expiring contracts as follows:
2013:
Henderson - QO of 4.3 million, on books for 3.1 this year
Mullens - QO of 3.3 million, on books for 2.3 this year
Higgins - on books for 750K
Diop - on books for 7.4 million this year
McRoberts - on books for 3.1 million this year
Williams - on books for 2.5 million this year
Total = 19.15 million leaving if they let everyone walk. They may resign Mullens, Henderson and Williams. I can't imagine they would bother to resign any of them to contracts above the QO, or minimum, except Mullens and they wouldn't break the bank for him.
2014:
Gordon - PO for 13.2 million (would be silly not to take it in 2013)
Sessions - 5 million
Total = 18.2 million, I can't see them touching Gordon but they could resign Sessions to a short contract, they won't break the bank for him.
2015:
MKG - TO 5 million
Biyombo - TO 4 million
Walker - TO 3.5
Taylor - TO 915K
Thomas - 9.4 million
Haywood - 2 million
Total = 11.4 million off the books with keeping your young core around for 13.4 million of TO's
2016:
MKG - TO 6.3 million
Walker - QO 5.5 million
Biyombo - QO 4.7 million
Taylor - 915K
Basically, they have a very cap friendly situation if they sign guys to appropriate amounts in free agency, while having more draft assets than liabilities. They also have had 4 quality picks in the past two years (two starters and two bench players at minimum).
They lose a lot of fat this offseason and pick up one or two high draft picks. If I were them I would look for cheap fill-ins on short contracts. There isn't likely anyone they can get in free agency that would be worth it and they really should build through the draft. They need to get lucky and get McLemore (I would go Noel if it weren't for his knee) with their pick. Then go big if they get Portland's pick, maybe Plumlee or Olynk or someone like that.
By the 2015 offseason then they should have:
PG: Walker - 4 year vet - 25 years old
C: Biyombo - 4 year vet - 22 years old
SF: MKG - 3 year vet - 21 years old
SF: Taylor - 3 year vet - 26 years old
2013 draft pick - Charlotte pick (McLemore - 2 year vet - 23 years old)
2013 draft pick - Portland pick (Plumlee - 2 year vet - 25 years old)
2014 draft pick - Charlotte pick (top five pick)
2014 draft pick - Detroit pick (9-16 pick)
2014 draft pick - Charlotte second rounder (31-35)
all on rookie contracts. If they get lucky that should be at least 4 solid starters and 5 bench players in four drafts, which would be very solid. 2014 draft is the make or break draft as there a few potential superstars in that draft in Wiggins, Parker, Vonleh, etc. They will likely have two lottery picks and a high second rounder. They need to get lucky here. If they get Wiggins and MKG is expendable, they can likely trade him for a very good future asset.
It kind of sucks for Walker but they need to build through the draft and he is still only 23 at the end of this year. He will be 25 when they get to the 2015 draft and 26 when he is a RFA. 2016 is the first time the Bobcats will likely need to retain players for any decent salary.
They do owe Chicago a draft pick, but it goes: >12 in 2013, >10 in 2014, >8 in 2015, open in 2016. I don't think they would send it out until 2015 at the earliest and likely in 2016 when they are a burgeoning playoff team. They also owe San Antonio a 2nd rounder in 2016 if >55.
It's a long term game for Charlotte and this off season will show if they are committed to building the right way or not. If they let their FA's walk (or resign for cheap) and only go after short/cheap refills, they are doing it the right way. If they spend a ton in FA, whether for their FA's or others, then they are doing it the wrong way. They have to stay committed to a long term solution and FA is not the way to do it in Charlotte. They need to build assets through the draft.