Do you really think that the economic substance of the transaction is that he's getting paid 110k for 2013?
If the Storm turn around tomorrow and re-sign C. Smith for $110k for year 1, would we feel the same? Or let's say, if the Cowboys re-signed Thurston on similar terms. If we are happy with that, then fine. If not, we are a bunch of hypocrites.
The NRL have every right to impose some level of a reasonableness test, given the scope for rorting that would exist without such a test. What I would disagree with is the amount at which that threshold has been set in this case.