Actually I did mean two different teams (and not that the Flames would transfer to a bottom feeder) because once you sign an offer sheet you have no guarantee that your team will really match it. I'm pretty sure that Penner also hoped that Burke would match Edmonton's offer sheet.
Yes, there is a good possibility that Calgary would match even a 10 millions offer sheet but there is no guarantee to it (plus this would also mean that Phaneuf would be the best paid Flame and while he will probably be the future of the franchise, right now Iggy is the face of the Flames and not Phaneuf).
Personally I just think that Don Meehan has more knowledge of the game and the business side of it than any poster of an internet message board. I'm pretty sure he knows what he does (or he wouldn't act for 13 of this years All Stars).