They need to get Werth, Zimmerman and Gonzalez to defer their 2016 salaries to align with their contributions to the team. That would free up another $47MM+...
According to Cots and some discussion we've had here, the overall AAV is what factors into the luxury tax (which would be where the Lerners draw the absolute line; probably much lower), so that wouldn't really matter much. Unlike other sports, extensions don't change the AAV impact for the year, only the years and total $$$.
Unless you're arguing that the Lerners are truly broke and can't afford the team anymore, I'm not sure what the point would be.