I can't fault Freddie Ljungberg for being overvalued. The Swedish international was once one of the best wingers in the EPL, if not in the game. Unfortunately he will only be remembered outside of London as the little bald guy that posed in his underwear, or perhaps for his questionable taste in past hairstyles and animal-themed tattoos.
Or so I thought. You see, kids, you can practice your left-footed crosses and work on powerful bursts over the first ten yards, but if you need an example to follow on how to end your career, Freddie's your man. This phenomenon is known as "Make more than you're worth by doing nothing", or simply, "Andriy Shevchenko".
He looked decent for Sweden in the Euros, but past his prime. It didn't help that there was little dynamism in the side, but it looked like he'd be able to ply his trade for at least another year in the East End. Apparently not so, as West Ham have terminated the former Gooner's contract, paying him out a total of $12M to go away.
I guess Curbishley and Co. had hoped they'd get more than 25 appearances and 2 goals for $6M in transfer fees and $170K/wk in wages. In total, the club have spent almost $26M on the guy, which results in nearly a million per appearance and $13M per goal.