Fedorov left for a 5 year $40M contract. Detroit's offer was 4 years $40M. You say less money, but it's the same money, but less per year. Fedorov wanted the 5 year deal that Detroit had on the table in December of that season, but Fedorov was switching agents and (if you believe the tabloids) was going through a divorce with Anna. He wanted to wait until all that was ironed out. When he was ready Detroit dropped the offer to 4 years. He wanted a couple of other things too....He wanted the extra year, but what he signed in Anaheim was 2 years guaranteed , with 3 years as an option to the player, Detroit would not do that. Also he wanted the 2 years because the CBA was expiring the next off season and Detroit would not give him the 2 year guarantee. Everyone always says, "he left for less money" "f*** him" "he turned down more here" etc.... fact is, he left for guarantee pay and another year on the contract. It was never about the amount of money Detroit had offered. If Detroit had offered the 5 year $40m the second time along with the language he wanted in there, then he would've possibly retired a Red Wing. That is the fault of Ken Holland. Or is it?
Here is a small tidbit in to why he signed the offer sheet with Carolina. Apparently Larionov and Fetisov had said some things about him over the summer when he did not go with them to Russia with the Cup. Fedorov maintains that he was not asked and did not want to go and leave Vladdy behind in the hospital. So its possible he felt that he would not be welcome here anymore if those two rejected him on the team. Could have something to do with how things were in Russia, if you weren't accepted by the leaders, you weren't accepted by the team, and Fedorov obviously still looked to those two as his leaders because of their legendary status with Red Army. Here is a clip I found:
https://www.apnews.com/4f9a6b43336f6ab798ea848dddeff298
Just like today, we don't always see what goes on behind the curtain. Maybe these comments played a role in him leaving in 2003 as well?