Next years draft: Next year if their pick lands in 1-10, they keep it. Anything after that and the pick goes to OKC. They also have the Cleveland and Min picks - both of which are unlikely to be in the lottery. Thus, they probably need to finish in the bottom 8 next year to keep their pick. And next year's pick is a big deal. 

LM: I trade LM. Get as much as you can. If you can undermine Min. or Cleveland in the process, even better. 

Current Vets: I don't care if the keep, cut, or trade Clarkson or Collins, but neither should get in the way of developing the team. Clarkson should be told that they will send him to the best playoff team they can find at the deadline as long as he teaches the young guards how to be pros and acts as a mentor. Feature him as needed to keep his trade value high.  

Young Players: In the meantime, play the rookies and sophs a ridiculous amount of time. If WK is not in the plans, move him, cut him, doesn't matter. (I really like him, but many in the league just can't run their offenses with him). If WK could be in the plans, let him try to develop an outside shot and take your lumps while he does that so that he can be part of the 5 out office that Hardy wants to play. If it doesn't work, move him. 

Minimum Salary: Depending on trades, take on a few bad 1-2 year contracts. Doesn't matter. Just enough to hit the salary minimum if they trade LM and other vets currently creating salary. 

In essence: Tank and tank hard. They should be actively trying to be the worst record in the league and they have the roster to do it.