For starters - I for one love the idea of a mid-season tournament. On the other hand, I hate the current execution. The round robin is confusing, it is to short, it is NOT "mid-season", and there is nothing to the current format to me that screams in the future it will become a "staple".
So I decided to make my own format and thought as to how it would look with some more planning in it.
For starters - this format is assuming we expand to 32 teams to Seattle and Las Vegas.
Regular Season Schedule
NBA Cup Format
Divisions / Groups
Schedule
Knockout Round
NBA Playoffs