Offer Sheet Targets

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Sure, and you can do what San Jose did a few years ago.

Offersheet one player (Hjarlmasson) and force Chicago to overpay.
Wait for Chicago to dump someone else (Niemi) and pounce on the new player.

When you have a team with cap constraints, there are a few ways to play the offer sheet game.

And then Chicago went on to win a few more cups with Crawford in nets, and SJ couldn't get past the first round of the playoffs until they dumped Neimi.

Worked out real well for SJ.

The offer sheet game almost never works out well for the offeror.
 
Are there any incidents of players getting offer sheets and not signing? I don't ever recall it. You'd think somewhere a player would refuse
 

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