It makes sense when you look at the options -
tender at the lowest, get him back at that amount
tender at the lowest, risk someone offering between 2.4 and 3.9, you then match at less than the 2nd round tender that you would have paid anyway
tender at the lowest, risk someone offering above 4 mill, ok they value him higher than we do, but we can pay him that if we choose
tender at the lowest, someone offers a front loaded deal that pays like 10 mill over two years or something with 7 in first year - see ya - take his cap space and go sign will Hernandez who I think would be an upgrade