Tim Howard's value is not in his performance, but in his pedigree

The Colorado Rapids finally announced the signing of U.S. men's national team goalkeeper Tim Howard on Sunday. The 37-year-old joined the team out of Everton, reportedly commanding a paltry $700,000 transfer fee.

Related: Tim Howard signs with Colorado Rapids, will join club from Everton this summer

The beloved U.S. icon, out of favor at Goodison Park, is the Rapids' first superstar Designated Player signing, and will reportedly earn around $2.5-million per year.

Howard's name is written in U.S. soccer lore, particularly for his heroics during the 2014 FIFA World Cup. He was instrumental in the team's "Group of Death" escape, and Howard's legacy is certainly helped by the fact that he has been a Premier League regular for the last 10 years.

Normally, Howard's signing would have been heralded with the sort of fanfare Clint Dempsey and Michael Bradley received upon their return. But the Rapids simply cannot ignore the elephant in the room.

The uncomfortable reality is that Howard is a player Colorado didn't really need.

In 2010, the Rapids defeated FC Dallas and won the MLS Cup. It was the peak moment in the franchise's history.

Five years on, the club is nowhere near repeating that feat with the Rapids now a firm minnow in a tough Western Conference. Three years of poor performances have born a bitterness into Dick's Sporting Good Park.

As the Rapids faded from their glory of 2010, fans turned their frustrations toward a bumbling front office, and with plenty of player turnover to lament, the team went into 2016 with something of an image problem.

It's why, when they traded starting goalkeeper Clint Irwin to Toronto FC, a fan blog named Burgundy Wave wrote an article titled "$%^@ the Rapids."

There was very little head coach Pablo Mastroeni could do to stop the slide that saw Colorado finish dead last in the Western Conference last season. With a sputtering attack and a poor midfield, the Rapids only shone in one category: defense.

The Rapids conceded 43 goals last year. Only five teams - all in the Western Conference - allowed fewer.

The Rapids' starting 'keeper deserved plenty of credit for his 2015 form:

Irwin is a competent MLS shot-stopper. Howard may be a better goalkeeper, but as anyone in Colorado can tell you, you don't replace a good pair of boots when your gloves have holes and your hat doesn't fit.

Put Howard firmly in the "wants" category and not "needs" and you might be right. But the Rapids did address some of those problem areas, bringing in versatile attacker Shkelzen Gashi, a veteran MLS winger in Marco Pappa, and another U.S. international in Jermaine Jones.

Howard may be an unnecessary upgrade on the field, but off it, he is, essentially, an apology.

His signing is a tangible effort from owner Stan Kroenke and the Rapids organization as a whole in making amends for the last three years. Called spendthrifts, Howard helps bring the Rapids back into the realm of relevancy.

His true value is not necessarily in his clean sheets. It's in his image; that of hero, of American soccer icon, of glory.