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Scab players

If the season does get cancelled AND all current contracts voided, we might see the equivalent of an "expansion draft" consisting of any players, past or PRESENT, who want to participate. Maybe have the owners agree to re-activate the players old contract they had with their old team when picking them. If a player is too pricey for them, pick someone else. Lebron & Wade & Co prefer to not participate, fine. Essentially all teams starting from scratch, then have the draft in June as usual.
This from another site:

"The players have painted themselves into a corner. The courts are not going to save them.
Once the season is cancelled, I expect the NBA to take swift and decisive action, to institute a set of rules, a draft and a season for next year. Then, they will look for a group of players willing to accept those rules, form a union, get recognized and have everything in place for June.
I think the players have misjudged the NBA horribly.
Sorry if there’s no games this year, but in the long term, this may end up better, especially for small market teams. "

If this does happen I kinda want the same jazz team.
 
In this scenario, I would think teams would try to sign their former "core" players first, just because they know them. If teams automatically get their old players back, contracts of many top players would almost surely have to be renegotiated to fit under the new hard cap. This could be a real "sore" spot... Maybe it'll be that they can keep "X" number of their old players, then there'd be an "expansion" draft from all remaining players, with new contracts.
Whatever, they do, it's bound to be contraversial...
 
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