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Old 06-03-2015, 09:24 AM   #83
Erick Estrada
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Join Date: Oct 2006
Location: San Fernando Valley
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Quote:
Originally Posted by EldrickOnIce View Post
The nature of the exercise is that you overpay.
You have to overpay, otherwise someone would bid higher.
It's simple economic/auction theory - you pay too much to win the bid.
Then everyone wails that the price it too high.
And then the process repeats itself, again and again.
I think this goes to show why typically the best UFA signings are the ones that don't happen in the first few days or week. The ones that are under the radar where there's less teams interested and less money put on the table.

Also a lot of GM's when they make these offers aren't necessarily worried about the long term ramifications as they know if the team doesn't have success in the coming seasons they won't likely be around to deal with the cleanup. This is why we haven't really seen reasonable free agent signings many originally thought the salary cap would bring. The LA Kings, Wild, Bruins, Hawks, etc are either currently feeling the pain or are going to be in a world of pain in coming seasons. It's the price to pay for success and trying to win today.
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