Hossa and Franzen were both offered contracts. Hossa dicked around, Franzen signed. A mule in the hand is worth a Czech in the bush. Not only that, but at the time Hossa's extra cap hit would have cost the Wings another player or two. Since that time, looking at points an goals per game, compared to cap hit, Franzen is the better value.
I would gladly take Hossa's slightly higher cap hit when you factor in everything else he does that makes him worth more money than Franzen. Hossa is an elite two-way forward. He has obviously slowed down some from six years ago, but so has his counterpart. Even if it cost the Wings another player or two, we are still talking about Marian Hossa. He scored 40 goals and the Wings haven't had anyone hit 30 since.
Imagine Hossa for all these years on Pavel's wing instead of Bertuzzi, Abdelkader, Helm, etc. It would have completely changed the dynamic of the team.