Towers overplayed his hand

So the Peavy-to-the-Cubs deal is seemingly dead. No surprise given that Towers wanted a "Hershel Walker type deal".

I can't help but think Towers overplayed a losing hand. There are only two ways out of this that will be good for Towers:

1. Trade Peavy to an American league team that can afford his contract and has the prospects to deal (Angels, Yanks were on his "approved list")
2. Peavy has a dominating first half of the 2009 season and then flips Peavy at the trade deadline

Other than that, I think Towers is stuck with an over-priced asset at a discount shop with an owner pushing for lower costs.