Alas, if you ask the owners, they pay for potential future production.
That is what they tell a star player who has been playing under a small contract.
If you ask the owners, young, unproven players have not yet earned a huge contract.
That is what they tell a young emerging star who has been playing under a small contract.
Figure out where the middle ground is and you've discovered why players hold out and ---smurfette--- about their contracts.