Yeah, Ferry made huge money last year -- this offer amounts to a cost of living increase for a player to fill that role. Bringing in Horry also doesn't mean that Rose has to go anywhere -- after all, Danny Ferry and Malik Rose have co-existed for years.
Ghost -- while I agree that back-up PG should be a priority, I don't think you can just say "throw that money at Speedy," and assume it will make the difference. What Speedy seems most interested in is a starting opportunity. He isn't going to get that in SA.
Speedy also wants multiple years at good money. It makes sense to me to offer what is essentially a one-year deal (second year reported to be team option) to Horry at $5 million if the other option is to overpay Speedy Claxton for 3-5 years. As nice as Claxton was at times in the Finals, he was so brutally overmatched, for example, in Game 6 of the Western Conference Finals (when Parker was sick and Speedy got big minutes) that Pop had no choice to run Kerr out on the floor!!! I'd hardly call that a ringing endorsement to seriously overpay for a guy.

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