The Edmonton Oilers were incredibly frustrated in their attempts to sign any of the top-tier UFAs, with the likes of Scott Gomez, Daniel Briere, and Chris Drury only interested in playing for teams located in coastal metropolises. And so, GM Kevin Lowe took bold action, signing restricted free agent Thomas Vanek to a seven-year, $50 million deal that likely far outstripped what the Austrian winger would have otherwise received from the Buffalo Sabres.

But the Oilers were again thwarted in their attempt to upgrade their forward corps. Not surprisingly, the Sabres have scheduled an afternoon news conference with managing partner Larry Quinn and general manager Darcy Regier at HSBC Arena in Buffalo, NY, during which it is believed that they will announce their intentions to match the offer.

As reported by the Canadian Press, Vanek will receive salaries of $10 million and $8 million in the first two years of the deal before making $6.4 million in each of the remaining five seasons. The six-foot-two, 208-pound left-winger scored 43 goals last season with Buffalo, becoming the first Sabres player to reach the 40-goal plateau since Miroslav Satan did it in 1998-99.

The off-season has been absolutely brutal for the Sabres, who lost co-captains Briere and Drury as well as Dainius Zubrus, all of whom were unrestricted free agents who signed lucrative deals elsewhere. Drury signed a $35.25-million, five-year deal with the New York Rangers, Briere signed a $52-million, eight-year contract with Philadelphia, and Zubrus signed a $20.4-million, six-year deal with the Devils, who were desperate to make up for the loss of Gomez to the Rangers.

And now, by spending far more than they'd intended in order to retain Vanek, the Sabres have put their budget in serious jeopardy. And perhaps worst of all, it's quite possible that they'll still miss the postseason even with Vanek in the fold, as the losses of Drury, Briere, and (to a much lesser degree) Zubrus may be too much to overcome.

For the Oilers, the price for Vanek (four first round picks plus a huge $50 million, seven-year deal) would have been extremely high, but he was incredibly productive in his sophomore season. If Vanek were to continue to improve and take a permanent place amongst the NHL's top forwards, then the deal would have been a good one for the Oilers, who desperately needed additional firepower.

Looking across the league, the signing could have severe budgetary implications for all 30 teams. By tendering Vanek this offer after he's completed only two seasons in the league, the Oilers have affected huge inflation on the price of third-year players.

If Vanek was worth $50 million, what can Rangers goalie Henrik Lundqvist--a Vezina Trophy finalist in each of his first two seasons--command? And then there's Sidney Crosby, who would have to accept a far-below-value deal in order to give the Penguins the flexibility needed to retain Evgeni Malkin, Marc-Andre Fleury, and Jordan Staal for the long-term.

There is no doubt whatsoever that the CBA isn't accomplishing its stated purpose. Rather than making it easier for small-market teams to survive--much less compete--they are instead preying upon one another. And while a free market economy may be a good thing for the likes of the Rangers and Flyers, it will likely prove disastrous for less fortunate clubs, many of them--like the Oilers and Sabres--based in "traditional" hockey markets.