Who signed 'em? He. Who is responsible? He. Is he gonna be fired? If he doesn't make the playoffs again and considering our actual payroll, absolutely yes, but don't worry, we gonna make it, but he is still responsible for those worthless 55 MUSD, the entire Marlins or Nats payroll.
Forget about baseball for a second... If I name you my new CCO of my company and imagine that I give you all the budget and everything you ask me in order to achieve the sales quote, and after a year you don't make the number... who would you think I'm gonna fire? Your sales executives?, your sales managers? your marketing staff? Probably some, but you definitely would go with them. You won't say me (hope) " Don't look at me, I told them (your sales staff) to sale, God knows that I told 'em, but they didn't".
In a management position you assume the entire responsibility of your decisions, the good ones and the bad ones. Unfair? Not at all, that's why who makes a MBA and gets a management position, are often very good paid in order to make the RIGHT decisions.
Anyway, I already made my point... if you still think that is not Theo's responsibility, be my guest, But watch out in which hands you invest your money my friend.