Kind of surprised its a one year deal. I know he's 32 but that's not bad and coming off an All-Pro season if I'm not mistaken so I would have thought he would warrant a multi-year deal with at least 20 mil at signing
In some ways, for a player in their 30s, one year deals can be better because they are effectively a fresh new signing bonus every year.
Option A:
Year 1 - one year deal for $9M, fully guaranteed if on the roster on week 1
Year 2 - one year deal for $10M, fully guaranteed if on the roster on week 1
Year 3 - one year deal for $7M, fully guaranteed if on the roster on week 1
Option B:
Three year deal for $30M with $14M guaranteed
Under Option B, the APY is a bit higher comparatively, but Option A allows the player to re-negotiate and get the best market value every year and isn't locked down to one team in the second an third year, and will have earned a good bit more cash by year 2 in Option A than they earned in guarantees in Option B.
Now, if they play out the full deal in Option B, it's ultimately more money. But, the team probably structured the contract where it is a high salary in year 3 that gets dumped, meaning the player is back on the free agent market anyway, so if they only earned $14M signing bonus plus maybe $3M in salary in year 1 and 2, then sign that same $7M deal with a new team in year 3, they will have ended up with several million less dollars overall.