CP3's new contract is going to hurt the Rockets, I can't see a way that as the NBPA President, how he can accept a contract for less than max (of course he can, but the optics are different here). While they can go over the cap to sign him, it will likely mean luxury tax and we don't know yet how willing Houston will be to pay that (and the repeat offender taxes in the following years).
I could be really wrong here, but I think Houston will have a different look next year and it won't include LeBron (who would be nuts to come west anyway...).