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The problem I see with making it that an offer sheet would (at least) have to meet or exceed the extension value. is that noone will bid on RFA's because there extension values are too high. Then we will just bid on them in FA and noone will get compensated
Not necessarily true - Brayden Scheen was just let go and his extension value was 3.2M.
Now would you bid 3.3m and up knowing your going to lose a 2nd or 1st round pick or will you wait an extra month and get him for less and not lose the draft pick??
Emergencies are unpredictable; they can happen at any time. And the last thing you are thinking about in any emergency situation is your fantasy team. We need to give some kind of time period to mitigate this.