It could be that Sund outsmarted everyone. It could also be that Memphis was not going to make a play at Smith because they thought he would cost too much. Once they realized the ASG was pinching their pennies they may have thought, what the hect, through out a reasonable number and see if they match. If they do, oh well we weren't expecting to get him anyway. If they don't, heck we got a bargain!
Of course netiher franchise is very welll run, so who knows.