I think the key is to go slowly at first. If you are a new team and pay $422k for a handful of players who have high salaries, then you are asking for trouble. Personally I don't really like the transfer list- I think it makes people feel the need to buy and sell instead of train and scout the opposition. Like a number of people have said, start expanding your arena little by little. Your $$$ will come.
Once I scored a basket that still makes me laugh.