In particular, the decision to use the full midlevel exception on Thompson rather than getting some wing help has appeared to be a strategic misfire. They didn’t need Thompson, and he hasn’t helped.
Additionally, they can stack contracts — such as Thompson’s, Ojeleye’s and the perennially injured Romeo Langford — to take back more money and throw in draft picks as needed (they still have all of their future first-round picks).
Now I don't pretend to know what the market for Thompson was this past offseason, maybe the full mid level is what it took to get him, but I'm of the opinion he was signed as two-fer: a serviceable player when on the team and a contract you package to bring back a bigger contract (something the C's lack).
This is something the team has done in the recent past with Tyler Zeller ($8m per year) and Amir Johnson ($12m per year). Now no trades ended up happening with them, but I feel it was no secret with what the team was trying to do with those deals (based on the non-guaranteed 2nd year of those deals, but the rules have since been changed and teams can no longer use non-guaranteed money for trades). To me, this feels like the same thing with the Thompson signing, gave the C's a serviceable player and trade-able contract.
Seems like Hollinger ignores this in his first point about Thompson, but later acknowledges the flexibility his contract gives the team. But I think it's a mistake to judge the Thompson deal by just his on court production, his most important contribution to the team may be giving Trader Danny something to work with.