I think you're overanalyzing this, he's not in the Rangers longterm plans (hence the short deal) and getting him signed will let us trade him at a future trade deadline either in '19 or '20. He'll be a valuable asset in that sense. I just wish it was a bit $cap lower so that guys like Spooner and Hayes can be had for a bit less.
Not sure I agree that was the best term if they want to trade him for value or even if they end up wanting to keeping him after this deal. Also not sure this sets any sort of precedence for any of the other RFAs either unless they plan to pay them 4M for each of their remaining RFA years without buying up any UFA years.
The outcomes here are
He is good, Rangers or some other team want him but see him as a soon to be free agent who will then get a pretty big contract. If he was good and there was some UFA years bought up in this deal then that is a contract that would be worth more both to the Rangers and on the trade front.
He is meh, maybe he could get a small rental return in the 2nd year, Rangers use him as a place filler until then
He is bad, not good any way it's analyzed.
I think meh is the most likely option so I'm not sure why they go this 2 year term when they could have had meh on a one year deal and expedited the process of getting a small rental return, maybe a larger one as he'd be seen as a player with a RFA year left instead of a pure UFA. Plus on a one year, if he was good and they wanted to then sign him longer term the Rangers too would have that one RFA year left to factor into that contract making the AVV less.
Why is that overanalyzing, isn't that just analyzing?
If I were to overanalyze, it does bring up a interesting question, did the Rangers have this plan when they traded for him, to use him as a two year filler that may return a merger return at some point? If so does that bring up whether or not the value in the deal that brought him here was lesser than what was perceived at the time? Or did the Rangers think he was a player they could fit into their long term plans and not quite get that right?