Well I had an idea similar to yours that could work one of two ways.
Max Deal Five Years; Owners still can sign players to these contracts but certain stipulations would affect whether or not they lose value (protecting them against the Gilbert Arenas and Eddy Curry's).
1) After 2 and a half seasons of play depending on whether the player lived up to the contract, they can be bought out at 25% of the highest year's salary. So if you signed Eddy Curry to a 5 year 100 million dollar contract and his play doesn't warrant it (I'll get on to that in a minute) you can buy out the rest of his contract for 4 million on a 20 million per year scale.
2) To be fair to the owner every max deal would have completely non-negotiable stipulations the most important being playing time. If over 2 seasons and a half (205 games) the player has missed significant time i.e. games (roughly one third of the total games or an average of 28 games a season these numbers can be ironned out obviously) due to INJURIES not things like Coach Decision DNP, or Family Emergencies the contract can be bought out so that something that seemed like a good decision in hindsight doesn't turn ugly fast because of sudden injuries (Tracy McGrady, Yao Ming, Grant Hill and so on).
3) This one I'm still play-testing with, this is the performance aspect of the contract. How this works is two fold; allow for the oversight of "stat padders" versus guys who have been consistent their careers. Everyone knows that stat padder, the guy who puts up huge numbers on a bad team, or suddenly puts up huge numbers the last year of his contract, gets signed to a lucrative deal and then fades into the sunset. Guys like these would be under intense scrutiny i.e. if they have a history of being a mediocre player, the contract comes with a clause that dictates that if after 2.5 seasons the average production is like 25% less than what they signed at they canb be bought out. Now some people are wondering "What if he's an elite player and sacrificed for the greater good of the team!?" well then that's on the owner and said player can sign anywhere else at his own discretion. Now Mr. Consistent isn't exempted from this, if he was keeping his play consistent, then it started to tail-off once his contract began he'd face the same consequences.
4) Lastly, is the player-out option. Say Player X signed a lucrative contract with a contender. For whatever reason management decides to blow the roster up and he's stuck on a rebuilding team (sound familiar anyone?) if the team fails to make the playoffs in back-to-back seasons, Player X has the option to void his contract (not receiving any pay) and become a free agent. So if for example Rip Hamilton wanted out of Detroit, after the Pisons have missed the Playoffs in consecutive seasons, he can have his contract void (also removing it from Detroit's salary cap) and sign elsewhere.
I know my ideas are jumbled, but tell me what you guys like/dislike, constructive criticism would be appreciated.
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