It's generally the same with all players. Value vs cost, other options, budget. You've already answered budget, you've got cap space. The next would be value/cost. You didn't say how much he wanted but let's assume 6m. I think that's reasonable for an elite CF with passable offense(I might dispute that as he doesn't steal much but that's probably your settings). So, finally, it's other options and the value/cost of those options. He's not a "build the team around" guy but I think he's a "put out there and leave out there for 5 seasons" guy. That's pretty valuable as you'd have locked down a key defensive spot for half a decade.