Can a team re-sign a player after renouncing their Bird Rights?

When a team renounces a player's Bird Rights, it means that the team relinquishes its ability to exceed the salary cap to re-sign that player under the standard Bird Rights provisions. However, the team is still permitted to sign the player again, but only under the conditions that apply to teams that are under the salary cap or using the exceptions available to them, rather than retaining the cheaper, more favorable terms that Bird Rights would allow.

Thus, if a team wants to bring back a player after renouncing their Bird Rights, they must do so under different contractual terms, which could involve offering a lower salary than what might have been possible under the Bird Rights. This highlights the fact that while the opportunity to re-sign remains, the financial structure of that re-signing will change significantly, typically requiring adherence to salary cap limitations or other exceptions.