I don't mean to sound arrogant, but I'm hoping this post will come off as such nonetheless. Just kidding (he said sarcastically)!
But to be realistic, Sarver didn't offer Amar'e Stoudemire a contract. Sarver structured the "offer" such that the only person who was going to benefit from the "negotiations" was Sarver - he could say he offered Amar'e the max and Amar'e chose to go to NYC anyway, giving off the appearance that Sarver isn't cheap, but rather is an intelligent financial guy who thought up an innovative way to pay Amar'e what he deserved while maintaining some insurance if everybody's worst fears came true. I guess it was the best way to amicably allow Amar'e to walk, but there was no way he was going to sign that contract. I mean, why didn't Sarver consider a sign-and-trade, where the deal would be structured such that in a couple of years, if Amar'e is still playing well, we're allowed to reverse the trade?
In any event, you really can't judge the merits of a decision with an unsure outcome (especially when there's no real way to assign probabilities to potential outcomes) by looking back at how things turned out. But even if you do take into consideration the events that have transpired in in the two years since Amar'e left, Sarver's "offer", as the deal was structured, the piece of the contract that is currently playing out is one that was guaranteed - so Sarver the Suns would be paying Amar'e max dollars now even though he hasn't been healthy all season. And who knows: maybe this back injury will result in the "Grant Hill Effect", diminishing the wear-and-tear on Amar'e's surgically destroyed left knee and thus prolonging his overall productivity. Or, as Amar'e pointed out after he left, the Suns love to brag about their amazing training staff, so maybe with their care and supervision Amar'e never would've injured his back in the first place.
The way I look at it, Amar'e Stoudemire was a member of the Phoenix Suns' graduating class of 2010. Shaq graduated in 2009 by playing a full season with the Suns as the best center in the West; Jason Richardson graduated in early-2011 when he became the Suns most clutch shooter and consistent scorer. I'm being a bit sarcastic, but if you look at how this team has been run over the last 4 years or so, the Suns seem more like a basketball camp than an NBA team. You come to Phoenix, get to play with and learn from one of the best point guards to ever play the game, get some great attention from the training staff, and then the players get to showcase their improved game so that a real NBA team will pay you what you're worth. I think that, if the Suns do get one of the first picks in the draft one of these years, it will be a great opportunity for a rising star to develop into an all-star and go on to do great things for whatever organization is willing to pay him the market price.