No way San Diego loses their only playmaker for Rivers. Alexander was a god-send after those horrible signings in the off-season (Meachem; Royal).
Normally I would agree with you, but they're obviously gambling that Alexander won't get paid market value relative to the potential production that he put on display last season. They want to get him dirt cheap while others may be willing to pay him a little more----perhaps so much that they balk. It may have been a decent gamble, but it's a risky one. If they wanted to lock him up, they would have put first round tender on him.