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It's a crap pair of moves by a front office which deserves to be eviscerated for it. Sadly, that won't happen around here, because "3 Super Bowls" still serves as insulation all these years later.
Letting Welker go for when he is making so little looks to be a bad move although his production declined last year (a lot more drops, a drop in YAC, a drop in yards per catch) and they might know more than us on that production drop. But even then he is productive enough to pay $6 million a year. Time will tell if the Pats were right. If Welker produces like he did this year over the next two years, it is a ridiculously bad move by the Pats.
I don't think signing Amadola is a bad signing on its own. If Welker retired rather than left in free agency, I would be excited about this move. Amadola has the potential to be Welker 2.0 and the guaranteed money isn't all that much on a five year deal. Depending on how the contract structured, this was a good signing if you judge it on its own and not in context of the Welker defection.