One thing I think GMs do is that they get all concerned about their job security (let's admit, GM of a basketball team is a pretty sweet gig, you're at work 16 hours a day...but would any of use really consider it work to get paid big bucks to manage a basketball team?). If you're under pressure to improve the roster or keep it from getting worse (like one of your players hitting free agency), you make short-term moves instead of long-term moves so you don't get fired.
One League Exec when asked about Atlanta's thinking said that the current Hawks ownership doesn't think they'll own the team in 2016, so in other words, that contract being horrible down the line won't be their problem.

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