I agree.
Yates at ESPN has the actual details. A little different and makes more sense. $30M signing bonus, $1M and $2M salaries fully guaranteed in 2013-2014, no 2015 bonus, just the $7M, $8M and $9M in salaries that are guaranteed for injury but not skill. And implicitly guaranteed by dead cap of $18M in 2015, $12M in 2016 and $6M against a $9M salary in 2017. They could cut him in 2017 if he truly was showing signs of imminent suckage, but as I always said they wouldn't have to because no way he's going out like that.
Details of Tom Brady's new deal - New England Patriots Blog - ESPN Boston
I knew King somehow had the details wrong. $3M signing bonus...and some other stuff going to be moved around...spoken like someone who doesn't really understand the significance of contract details where the cap is concerned. Basically they took his next 2 years take home of $30M, half of which was guaranteed next week and the rest of which would become guaranteed in week 17 of the upcoming season - less $3M in remaining salary they guaranteed on signing, and called it a signing bonus. And as usual he is allowing them to pay it out over time, (as allowed by rule), although since it will be paid out over more than 12 months they will have to add prescribed interesst as prepre to the payment (although that won't count against the cap). He agreed to that structure so as not to drastically impact their cash flow just as FA starts.
Back in 2004 when Manning signed his until previously seminal 9 year $113M deal that became his 7/$98M Indy deal from 200 until 2010 it contained a $34.5M signing bonus, all of which was paid up front or within a few months. The delay was necessary because the team didn't have that kind of cash laying around, they were small market in those days, so cash flow was an issue nd Irsay had to liquidate personal assets (he's a rock and roll memorabilia collector) to cover a chunk of it.