Just take a moment and walk in the shoes of Viola and Cifu - wouldn't you want to save 10 million of your dollars after opening the bank for Bob and these other less than hopefuls? Would you?
It's easy to to sit here and scream about someone else's purse.
I find this a poor argument. If these guys didn't want to spend their jerk-off money they got from gaming oil futures during wartime and high-frequency trading shenanigans, then they shouldn't have purchased a struggling NHL team.
Spend to the cap, or don't. Personally, I think if you're going to pay through the nose for a coach, it makes absolutely no sense to spend well under the cap. In fact, I would say that is pretty stupid.
I guess they thought that they'd spend some money, turn the team around quickly, put butts in seats, and make the franchise a lot more valuable either as a long term asset or for an eventual flip. The 'winning' part hasn't materialized, so I suspect that they are moving on to plan B: extracting as much value as possible from the asset before liquidating it.