I have to start by saying I haven't read the contract, so I can't say anything with certainty. But the bits of it that I have seen cited by journalists still read to me as a contract that would be interpreted as requiring an offense before punishment can be rendered. And yes, maybe those portions do read on the surface like the punishment can be arbitrary at that point, but that's not even the problem here if there is no offense/wrongdoing. I've mentioned before, and I'm sure many of you know that contracts have both explicit and implicit terms; if the agreement gives a commissioner unlimited discretion to dole out punishments for offenses, it is an entirely reasonable interpretation of the contract that the implied term is that some wrongdoing must take place before this "unlimited discretion" can be engaged. I fully expect a court would also find some sort of limit on the "unlimited discretion" touted by the media, for example: if a Jets coach trips an opposing player running down the sideline, I don't expect a court would allow a commissioner to force Woody to sell the team as punishment. Freedom of contract is simply not absolute.
I don't know why the media keeps pushing this "Kraft could never win in court angle", even the ones with some legal experience. Lawyers don't agree on everything and courts don't agree on everything, so I believe it is incorrect for them to state there can only be one possible outcome. Heck, not all lawyers (such as those in the media) are necessarily even adept in contract law; we have to remember that some people do graduate law school having received a D in first year contracts (and this doesn't even mean they are necessarily bad lawyers).