Here's what an adult would do: take a look at the (evolving) market and determine what a reasonable range of compensation is in that market for this asset. Then consider what he is worth to you, given where your team is with respect to current roster assets and needs and with respect to the financial assets you have to spend. Taking these two perspectives into account, decide what he is worth to you. Share that number with no one. Negotiate. If you can't get him for that number - for that firm, fixed number - trade him to the highest bidder.
Ignore everything else: fans, pundits, national gossips, hopes, fears, your need for validation or whatever the **** Oprah et al are calling it these days, the impact on your rep with the fellas, and so on. It's a business, but really it's no different than buying a used car. or, I suppose, a work truck, since that too is an asset on which you hope to make a profit.