If you can prove a reasonable sacrifice (in this case Arenas "sacrificed" signing with another team....or league...etc...), the courts will generally side with the contractee. Anything "given back" on contracts would likely be negotiated as an across the board pay-cut for all players ( i think the NHL did this...), not the wipe-out of a select few contracts. They may put provisions in for allowing future player contracts to be waived with no penalty (similar to NFL) but that would only apply to contracts negotiated under new CBA guidelines.

I think at least. Holiday Inn Express was all booked up last night, had to stay at a Red Roof Inn instead.