I figured i would hear about that bid. really it comes down to saving money to buy Yao, and being handily outbid, and having a bunch of money leftover. I figured this might be the best way to spend it, since i can lock up a young player i like for 3 years, it gets me an option on the third year, and i have his rights to resign him the year after. Considering i wasn't going to be getting anyone else of skill with this leftover money, and it is the last player i need on my team. Why not.
And yes, it was clearly a homer pick as well.