So no free agency at all?
How would front offices run if this was a real rule?
No trolling tread
The upside is you know you don't have to move around from city to city.
The downside is if you got drafted to a team at the bottom of the league and rebuilding the team has a 4 year outlook on just getting into the playoffs, not even thinking about championship.
It seems a bit like slavery though in that you can't quit, unless you leave for a European or Chinese pro league. If you don't get along with the coach or the coach isn't good, what are you going to do? You are kind of stuck.
How would front offices run? I can't even wrap my head around that. I can imagine some team owners plotting to kill players who don't perform just to get them off the roster so they can pick up new guys..