This is one of the reason i think most GM in NHL are incompetent, i think they just have got their job because of connections and have no idea of what they are doing. Horrible trades, horrible draft picks, horrible signings. You wonder what they are thinking half of the time. Signs like this will just come back and haunt you when you want to sign a star player.
Much better save this money for some star player than signing medicore d-men for 4.25, you could have sign a equally good d-men for lesser than 1m, or you could lift up a prospect to fill that role. I Cole is hardly anything special, and is not worth more than around 1m.
Signs like this makes the signing for star player seem cheap. The worse contracts are usually the ones around 4-7m, medicore players that togeheter take up alot of cap space. Maybe a 1 year contract and if you have alot of cap space and have nothing better to spend it on.
For 3 cole you could get 1 EK/Tavares+1-2 1m guys.