If you move to incentive based contracts with bonuses, that would not do anything to help bad management. Just like in football, where guys like Vick got way overpaid, you would still have the same problem. Cowboys spend money, they have not won a playoff game in years.
In the NBA you can renounce players rights, trade them, buy them out, cut them. You do not have to give someone money just because you have it. Evidently the feel it necessary to have a 12th man on the roster or else every team would just have minimum players to fill those spots.

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