Actually I think Hawksfan has brought something up for all teams to play. Ship the ****! Basically every team has a couple of players who have signed large contracts and have so far produced absolutely nothing. Guys who won't end up playing for anyone and the only reason they're in the league is that they have a massive contract and everyone is too embarressed to waive them. So what should teams do? Trade them! Incessantly. Whenever they're able to be traded the GM's match contracts and contract lengths and the ship them to the other side of the country.
Brian Grant for Jerome James. Chris Anderson for a Collins brother! Everybody wins! Fans have something to chat about. Coaches get a new whipping boy 2 or 3 times a season and these players have to move around the country every 3 months just to continue cashing those massive paychecks. (Ok... so the players get punished. But collecting 30mil for 5 years and 5mpg is a reward that overcomes moving a couple of times)
Part of the CBA will have a residence clause which forces players to stay in the city (or within 100km) of the team that owns their rights during the season. If you really hate someone, you can send them to toronto!
If, like in New York's case, there's one team that has collected more than 5 of the bad contracts / players that they didn't sign themselves then they're deemed the winners and don't have to pay the luxury tax that year! Once a winner has been found they hold a draft with the reverse order to the rookie draft to re-allocate all those crappy contracts.