Originally Posted by dalemurphy
That simply is not true in the salary cap era... You are saying, essentially, that a player with a contract which consumes 4% of a team's cap has the same value as an identical player which consumes 8% of a team's cap room... Of course that is not true. It is the reason why teams, during free agency, knowingly sign a lesser talent for less money- they view that decision to have better value. Before 2011, teams were trapped into a system that deemed that pick (regardless of the talent pool) worthy of a $50+ million financial commitment... Now, the system still determines the value of that pick, but the determined value is about 50% of what is was a few years ago... hence, it is much more valuable than it would have been prior to the new CBA.
I think you're missing the point. Value is the Market minus the actual price. Since the market is similar, but the actual price for picks now is controlled, it creates more value or some would say excess value. As the system matures, the money will tilt back toward the established players in FA receiving greater contracts, but we have to work through the overpriced contracts of the old system which have created salary cap issues first.