Didn't Minnesota get hammered for something like this with Joe Smith?
ETA:
"The Joe Smith controversy was an NBA salary cap scandal where the Minnesota Timberwolves owner, Glen Taylor, and Smith's agent made a secret agreement for Smith to sign three below-market, one-year contracts to secure his "Bird Rights" so the Timberwolves could offer him a lucrative long-term deal later. The NBA discovered this agreement, voided Smith's contracts, and heavily punished the Timberwolves with a $3.5 million fine and the loss of five first-round draft picks. Joe Smith himself was also punished, being sent to the Detroit Pistons, despite the league and he himself acknowledging his lack of knowledge of the secret pact."