Well yes I'm sure the waiver contract would have to at least be the minimum veteran contract amount. When I said "no minimum" I was curious what the base minimum bid price will be. For example will the starting bid to claim Gilbert Arenas be some percentage, such as 20%, of his previous contract? Or will it only be the veteran minimum?
Bidding on amnestied vets sounds like something from the Vietnam War. If the GMs met in a convention hall for this bidding process, TNT could televise it like the annual draft and have a ratings bonanza.
I'm guessing that the bidding starts at the minimum. In a blind bidding process teams will have to carefully weigh what they think the player is worth to them and what other teams are likely to pay for him -- in short the only guys we'll see with a bare-minimum contract are the ones that only one team thinks is worth that minimum. There's a lot of game theory involved in this waiver process, which I think is really fascinating.
