After reading through all 62 pages of this thread (I should get a medal for that) and rationally thinking through the events that unfolded, I give Feaster the benefit of the doubt and I believe he really did think O'Reilly would not have to clear waivers. Here's what I think happened:
1. Feaster and Flames read the MOU and found that it was ambiguous at best. They decide that based on the wording, it is reasonable to argue that "a team" could mean "any team" and that the Flames would not have to put O'Reilly on waivers.
2. Feaster decides NOT to call the league to verify. He knows that by calling, there is a good chance that the league will say that the Flames' interpretation is incorrect and thus they wouldn't be able to go ahead with the offer sheet.
3. Judging on Pat Morris' (O'Reilly's agent) comments where he said he had no idea about the waiver rule, it is possible Feaster did not check with Morris regarding this matter, as doing so might have caused Morris to call the league to make sure.
Now, given the above scenario, I think what Feaster did was incredibly sneaky and underhanded, similar to New Jersey when they tried to circumvent the spirit of the salary cap with Kovalchuk's salary. I understand that Feaster is a lawyer and that's what they do (find faults and argue over semantics to their advantage), but I don't think the NHL and GMs of other teams will be amused by his antics. Ken Holland basically fired a shot at Feaster when he said that if he were in the same situation, he would have checked with the league first. Holland did go on to say that he's sure the Flames did their due diligence but he's just paying lip service. If you read between the lines you can tell he wasn't too pleased by what transpired.
Regardless of whether Feaster or Bill Daly was right, this fiasco has severely damaged the reputation of the Flames and for that reason, someone will take the fall. I don't think Feaster will be fired, but the damage has been done and the public's and NHL executives' perception of the Flames has taken a huge nose dive.
All in all, I think Feaster should be fired just so the team can be rid of the stench of this disaster and move on.
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