IoanBlood has just joined the league as the owner of Brooklyn. Best of luck with your team!

Welcome to the league and to my division.

New guy brings the donuts to the league meeting...

Champ gets first choice: I’m gonna make a request for an apple or blueberry fritter :-)

Welcome IoneBlood

It will be hard work to keep a successful team running. The AI and/or the former owner issued some very expensive contracts. Now I'm in some difficulties to renegotiate needed contracts and have enough money for draftees. Maybe the team will be a loser team for the next few seasons as I have to hire cheap players.
Trading is also no solution as there are very high bonuses which would make my dead cap and then cap limit explode.
Also the coaching staff is overpaid, Nearly no room to extend contracts.

So, please, don't think I'm tanking when I start to rebuild the team. I try to keep as many good players as possible.

You should be able to hire new coaches to lower contracts - when they accept the job the incumbents will get fired.
Might be a few seasons of pain to get the roster/cap situation corrected, but if you stick with it, there's no feeling like turning a franchise around. Good luck!

I had the same problem in another league maybe this one too not sure but with smart decisions and lots of luck you will do fine.
Welcome and good luck