Getting Traded
Banned
That would mark the end of the NBA. Players could cry racism, discrimination, bigotry, unfair work place etc whenever they didn't like their team or contrCt situation. You would have 100 or more Derek fishers every season. Utter chaos.
This is truly a sticky mess for the nba and Silver & company are going to have to navigate this just right. If they misstep they risk creating a precedent or an environment in which there are major shifts in the fundamental nba landscape.
They're smart guys, all of them lawyers, so they should be able to find a legal loophole that would force him to divest his interests in the team. Geez, I'm not a lawyer but it seems to me there would be plenty such options. Of course, you need to read the NBA's Constitution but I have read some opinions by legal experts that say it's definitely feasible.