B. Chan,
Things I would do if I were you:
1) Reduce your roster. In my experience you don't need more than 12 guys barring injuries. I see you have some guys up for sale so whoever doesn't sell I would fire until you get down to a 12 guys.
2) This season, as far as records go, is pretty much over for you. Once you have narrowed down to your 12 guys I would pick 4-5 guys you want to focus on training. They should all be under 20 at least and you should decide to train Big Guys or Guards. Based on my experience here, and I am sure others will agree, your best bet would be to train PF/C.
3) After a half season of training I would then sell 1-2 of the players you trained and buy 1 guy who would be close to if not the best player on your team.
4) I would also a) lower your ticket prices and b) expand your arena. I see you are doing some expansion now but I would go even further and get to at least 6,000 seats asap. By lowering your prices you sell more tickets which should create more revenue for you.
Just a couple things I have learned that worked for me. Most of it was trial and error and it took me a couple seasons to figure things out that worked best for me!