It's not a professional sports league. College players aren't under contract, and teams don't exist only as a function of the NCAA (they aren't franchises). Way different entities, the NCAA and the NFL. Not even the same discussion.
A hard-cap definitely eliminates the possibility of the Miami Heat thing ever happening because they wouldn't be able to field a team if they tied up that much cash between the 3 of them. They signed for under the max, but that doesn't mean the team is under the cap. It's just that it doesn't matter, because with the NBA's soft cap, you can go over as much as you want (more or less...I'm over-simplifying), you just have to pay the luxury tax. As far as guaranteed contracts go, it's a little more complicated how that led to the current state of NBA hoops, but the upshot is that guaranteed contracts make the market extremely inefficient. Boatloads of cash are tied up in injured, underperforming, or flat-out bad players, which leads to the strategy of stockpiling bad, overwrought, expiring contracts from teams (which in recent years has become the hottest commodity in the NBA) in an effort to simultaneously unload bad contracts and make spots/money available for jackpot signings which will be inescapable from the teams' perspective once the ink goes to paper. The past 2-3 years, the NBA has been doing its impersonation of cap-and-trade, swapping the hottest commodity possible (bad contracts) for a license to go after 3-4 guys who everyone knew were going on the market at the same time....ergo what happened in Miami. The implications of guaranteed contracts are actually much more far-reaching than I can even think of off the top of my head (it's probably a 100-page financial report), but suffice to say they affect every single aspect of the NBA, and almost always in a negative way (except to the players). If you let teams adjust their balance sheets based on the performance/underperformance of their product, just like any other market in the world, the entire landscape of the NBA changes significantly. Teams get competitive more quickly, they can address needs faster/cheaper, and roster spots can be used in any way a team wants. As an added bonus, Vince Carter's last 2 years in Toronto never happen...
I'm not being difficult, just disagreeing with you.
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