My friends and I joke about the absurdly high contracts that middling athletes receive during the baseball season. When you have a palpably finite supply of players that your competitor peers are going after, the group-think leads to irrationality. You see transactions doomed from the start when teams like the Colorado Rockies pay $70 million for the services of Ian Desmond through his mid 30s.
These situations, when key industry players gather around to bid up so-so assets, remind me of the Animal House scene when Otter said: “No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody’s part!”