From a basketball perspective, the mistake of 2009 was compounded with the mistake of 2010 and we'll have to live with consequences of those mistakes for the next three years.
From a financial perspective, it ain't my money.
(fwiw, the total savings of the refinancing improved the bottom line by something on the order of 18-20 million dollars in reduced salary, reduced luxury tax and added luxury tax distribution. As to whether a better deal was possible, we'll never know. We do know, or think we know, that the Spurs found the refinancing terms acceptable before RJ opted out on June 30th. The deal he signed may very well have been his bottom line price for opting out. Remember that RJ gave an interview in April, 2010 where he said that he would consider opting out of the remaining 1 yr/15M for something on the order of 4 yrs/40M. The Spurs did the math and found that the numbers worked for them as well.)