This is the real risk for owners...if there is another viable market for NBA players. Yeah, there are some problems with player salaries that probably need to be fixed (probably with a reasonable hard upper and lower cap), but the owners are also manipulating their books a little to "lose money". Plus...there's just something wrong with them telling players they need to lower their salaries to prevent owners from making stupid FA decisions. Sorry, Joe Johnson's contract isn't Joe Johnson's fault, it's the moronic owner that agreed to it.
It's the moronic marketplace, not specific owners, that cause that sort of dumb contract. If Atlanta didn't pay Joe Johnson, some other team with cap space would have. So the only way for Atlanta to escape your ridicule would have been to let their best player go in free agency last summer and effectively begin rebuilding. Does that sound like a decision that GM / owner would be praised for?
While I can see blaming some things on the market, there is no way I can see blaming Joe Johnson’s contract on the market. That was purely management’s fault.
The market was not offering Joe Johnson $119 million. Now I’m not 100% sure about this, but I’m pretty sure that was more than anybody else got last summer. More than LeBron, Wade, Bosh, Stoudemire, Boozer, Gay, Dirk, and Pierce. The market definitely didn’t value Joe Johnson above those guys. I would imagine that the actual market for Joe Johnson was more like $90m, maybe less. Granted, he does not even appear to be worth anywhere close to that right now, but the Hawks were only bidding against themselves. I imagine they could have easily gotten him for $20m less with no negotiation, maybe even $30-40m less if the Hawks played hardball. What other team was willing to pay Joe Johnson more than that?
It was the same thing with Allan Houston’s $100m contract back in 2001. The market wasn’t paying a player like Houston that much, and I remember reading how many experts said the Knicks were only bidding against themselves and nobody else was prepared to offer more than $60m for Houston (though memory is a little fuzzy on this, it may have been more). Some things just aren’t the market’s fault.
If Joe Johnson signed for $90m last year, it would still be viewed as a terrible contract now, but you could blame that on the market.
Joe Johnson signing for $119m and getting the largest contract in the most active free agent market ever, that’s just terrible management.